Big news from automobile industry! Mahindra and Ford enter strategic alliance

New Delhi, September 19: Mahindra group have entered into a strategic alliance with Ford Motors. The two companies said that they will explore joint product development while aiding each other in gaining a market penetration.

“This alliance will allow us to work together to take advantage of the changes coming in the auto industry.” Most foreign auto makers have struggled in the budget-sensitive Indian market and Ford has a less than 3% market share.

As part of this agreement, it has been decided that teams from both companies will collaborate and work together for a period of up to three years. “Any further strategic co-operation between the two will be decided at the end of that period,” said a joint release.

Japan’s Toyota Motor and Suzuki announced plans to work together earlier this year to exchange expertise, while General Motors and Ford are also in various experiments with US ride-sharing giant Uber Technologies.