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.
Ford Motor is close to a deal with Mahindra & Mahindra to establish a new joint-venture company in India, a move that will probably see the U.S. automaker stop independent operations in the nation, two sources with a direct understanding of the talks informed Reuters. The deal would make Ford the recent automaker to pare […]
With its stock trading close to a 6-year low late last month, Ford Motor CEO Jim Hackett gathered the automaker’s top 300 executives close to its headquarters located in Michigan for a global leadership meeting. Hackett’s message: Ford should put in motion plans to restructure its business now in order to secure promised expenses savings, […]