Mahindra signs deal with Ford for midsize SUVs in India

Mahindra XUV500

Indian automaker Mahindra and Mahindra Ltd signed a deal with Ford Motor’s Indian unit to jointly develop midsize sports utility vehicles (SUV) in India, the company stated on Thursday.

Ford and affiliate companies will spend 6.80 billion rupees ($97.97 million) for the construction of the vehicles for the duration of 10 years, Mahindra stated.

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