Ford Motor Co is nearing a deal with Mahindra & Mahindra to form a new joint-ven...
NEW DELHI - Ford Motor Co is nearing a deal with Mahindra & Mahindra to form a new joint-venture company in India, a move that will likely see the U.S. automaker cease independent operations in the country, two sources with direct knowledge of the talks told Reuters.
Over two decades, Dearborn, Michigan-based Ford invested more than $2 billion in India but has consistently struggled - it currently has a market share of just 3 percent in India, one of the world’s fastest-growing car markets. Mahindra too said it does not comment on speculation. It said in a statement it was “working together in identified areas” with Ford after a 2017 partnership arrangement, and “will announce further definitive agreements as we progress on some of the other areas.”
Even so, India is set to become the world’s third-largest car market by 2023 with sales of over 5 million cars annually, according to forecasting firm IHS Markit. Automakers such as Maruti benefit in India from their vast dealership network and an autonomous local team that can quickly react to market changes.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Brexit leaves Ford at crossroads on long-term British plansFord is spending tens of millions of euros preparing for a possible British exit...
Weiterlesen »
Ford to launch more than 30 new models in China over next 3 yearsFord Motor plans to launch more than 30 new models in China over the next three ...
Weiterlesen »
GM, Ford and Toyota join to advance self-driving testing, standardsA fatal 2018 accident involving a self-driving vehicle, and two deadly 737 Max plane crashes have put a spotlight on the ability of regulators to assess the safety of advanced systems.
Weiterlesen »
Ford to launch more than 30 new models in China over next three yearsFord Motor plans to launch more than 30 new models in China over the next three ...
Weiterlesen »
Ford, GM and Toyota set up a safety group for self-driving carsThe new group is called the Automated Vehicle Safety Consortium.
Weiterlesen »
Ford sales fall 1.6% due to unpopular cars, but truck, vans and SUVs gainA 24% decline in sales of ever less-popular passenger cars dragged down what was otherwise a positive quarter for the second-largest automaker.
Weiterlesen »
Ford, GM and Toyota to Steer Standards on Self-Driving Car DevelopmentThree global auto makers—Ford, GM and Toyota—said they would join forces to create a set of standards for the development of self-driving cars.
Weiterlesen »
Ford Brings Out the Jumper Cables in China…AgainFord relaunched its China business, promising a bevy of new products, less than a year and a half after its last reboot failed to arrest a sharp decline in the company’s Chinese sales.
Weiterlesen »
Skateboarding couple deface gravesite of Gerald and Betty FordPolice are seeking two skateboarders in what officials called 'extreme vandalism' at the gravesite of former President Gerald Ford and First Lady Betty Ford in Michigan.
Weiterlesen »
Ford to launch more than 30 new models in China over next three yearsFord plans to launch more than 30 new models in China over the next three years, of which over a third will be electric vehicles, it said on Wednesday. As David Pollard reports, the announcement comes amid efforts to reconfigure its global presence...
Weiterlesen »