According to the reports, the American brand, Ford is struggling in get a tight grip in the Indian market. However, unlike General Motor’s quitting India, Ford is in directive terms with Mahindra to launch a new venture catering to Indian market. Ford plans to continue its presence felt in India through Mahindra. While the negotiations are still on the table, it is said that Ford will acquire 49% stake and the other 51% will be retained by Mahindra. The deal is said to finalise in coming 90 days.
the spokesperson of Ford said that the company does not comment on any speculations being put forth. Further elaboration, the following statement was made, “Ford is committed to India and will continue bringing products that Indian customers want and value. We have no intention of exiting the market, contrary to market speculations. We continue to work with Mahindra as part of our ongoing strategic alliance. Teams from both companies continue to work together to develop avenues of strategic cooperation that help us achieve commercial, manufacturing and business efficiencies.”
Ford is also developing a C segment SUV with Mahindra’s collaboration which is said to surface in the second quarter of 2020.