American automotive giant Ford is partnering with India’s Mahindra Group to build electric vehicles and share powertrain technology. The partnership is aimed at consumers in India and emerging markets.
The transition towards electric vehicles just made a global leap with the new strategic collaboration between Ford Motor Company and the Mahindra Group.
The U.S. automotive giant and India’s largest utility vehicle company have signed five new memoranda of understanding (MOUs) to jointly develop a series of products, including a small electric vehicle.
“Today’s announcement is the next step in the collaboration between Mahindra and Ford,” said Pawan Goenka, managing director of Mahindra and Mahindra Ltd.
“Both teams are working together on joint development areas in keeping with industry requirements and leveraging mutual strengths.
The new collaboration will also see the two companies work together to develop connected vehicle solutions, which Ford says in needed for people around the world to move more safely, confidently and freely.
“Listening to our customers and incorporating their future needs is the core premise of this collaboration,” said Jim Farley, Ford executive vice president and president of Global Markets at Ford.
“With utility vehicles and electrification as key focus areas, we are glad to see the progress our two companies have made.”
Like other major carmakers around the world, Ford has been getting more serious about electric vehicles in recent years. Its partnership with Mahindra puts it in a stronger position to develop clean and affordable vehicle technology.
Mahindra has a majority stake in shared mobility firm Ssangyong Motor Company in Korea, which has investments in ridesharing platforms in the U.S. and is developing products like the GenZe, the world’s first electric connected scooter.