In India, Ford and local car maker Mahindra to create a joint venture and throw him $275 million. The new Alliance should help the giants to increase sales in the region, writes AutoTimesNews.
The report said that in the framework of this transaction, Ford will give 51% of their operations in India to the joint venture, including professionals and Assembly plants in the cities of Chennai and Sanand.
At the same time, the American brand reserves the control over the engine plant in Sanand and continues to monitor lending and local technology Department Smart Mobility. New joint venture will produce cars with the logos of Ford and Mahindra for the markets of developing countries.
It is also known that the company agreed to cooperate against serious competition from other brands in the region. So, in August sales of Ford grew by 3% in Mahindra – 7%.