SME Times is powered by   
Search News
Just in:   • IMF cuts India's growth projection, but it still retains world's top spot  • People are more important than industries, SC tells Centre  • US challenges five WTO members for imposing retaliatory trade tariffs  • Iran warns OPEC against raising oil output  • BEML, L&T to tap export market for defence products 
Last updated: 22 Mar, 2018  
Mahindra.9.jpg
   Top Stories
» Prabhu woos Omani investors, discusses SME cooperation
» India passing through a period of transformation: Modi
» Wholesale inflation at 54-month high in June
» Data protection must in Insecticides Act: Official
» Govt to review Companies Act, may decriminalise minor offences

Mahindra Group and Ford Motor Company on Thursday announced that they will jointly develop new SUVs and a small electric vehicle (EV).

The development comes as the two companies signed five new memoranda of understanding (MoU) that further strengthen their strategic alliance and accelerate the development of key products for consumers in India and emerging markets.

According to the two companies, the MoUs, which are non-binding, mark the progress made by the two companies since announcing their alliance in September 2017.

"Under the initiatives, Mahindra and Ford will leverage their strengths in the utility vehicle space to co-develop a midsize sports utility vehicle (C-SUV)," the two companies said in a statement.

"Built on the Mahindra platform, the new SUV will drive engineering and commercial efficiencies and will be sold independently by both companies as separate brands. Mahindra and Ford also agreed to evaluate co-development of a compact SUV and electric vehicle, along with sharing powertrain portfolios, including the supply of Mahindra powertrains to extend Ford's product range."

The statement added that Mahindra and Ford also announced plans to co-develop a suite of connected car solutions for consumers.
 
Print the Page Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 18 Jul, 2018
  Daily Poll
Is counterfeiting a major threat to SMEs?
 Yes
 No
 Can't say
  Commented Stories
» Starting an import export business: Basic guide for beginners(13)
» MSP hike(8)
» Macro-economic scenario extremely positive in India: Ashishkumar Chauhan(2)
» IndiGo's Delhi-Gorakhpur flight from Sep 1(1)
» 'Industry must give suggestions to resolve glitches in GSTN'(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter