SME Times is powered by   
Search News
Just in:   • Merger of BoB, Vijaya, Dena banks in 4-6 months: BoB MD  • Trump to slap tariffs on $200 bn worth of Chinese goods  • Encourage greater value addition for MSMEs, Prabhu to G20  • Rupee hits fresh lifetime-low again, now at 72.97/$  • Apple iOS 12 with new tools now available globally 
Last updated: 22 Mar, 2018  
Mahindra.9.jpg
   Top Stories
» Encourage greater value addition for MSMEs, Prabhu to G20
» Rupee hits fresh lifetime-low again, now at 72.97/$
» Nasscom to mentor 100 tech startups every year
» Goyal inaugurates first ever India tourism Mart 2018
» Jaitley hints at no immediate cut in fuel prices

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 Sep, 2018
  Daily Poll
Is counterfeiting a major threat to SMEs?
 Yes
 No
 Can't say
  Commented Stories
» A GeM of opportunity(9)
» Starting an import export business: Basic guide for beginners(3)
» GeM mission launched to promote MSMEs, start-ups: Prabhu(1)
» CAD rises to $15.8 bn in first quarter on high trade deficit(1)
» AI start-ups blossom in India, need big dollars to grow(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter