This post was originally published on this sitehttps://i-invdn-com.akamaized.net/trkd-images/LYNXMPEF902N3_L.jpg
MUMBAI (Reuters) – Ford Motor Co (N:) and Mahindra & Mahindra (NS:) will form a joint venture company in India valued at $275 million that will develop, market and distribute Ford branded vehicles in the country, the two companies said on Tuesday.
The two companies have for months been negotiating the deal, which will see Ford hold a 49% stake in the new entity, while Indian rival Mahindra will own 51%, Reuters reported in April.
By shifting to a joint venture, Ford is changing its India strategy where it has long run an independent operation. India’s autos market is dominated by Asian automakers like Suzuki Motor Corp (T:) and Hyundai Motor Co (KS:).
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.