Report: Ford to Form Indian JV with Mahindra

Ford Motor Co. is close to an agreement to replace its operations in India with a joint venture majority-owned by Mahindra & Mahindra Ltd., sources tell Reuters.

They say the venture will be 51% owned by Mahindra and would replace all of Ford’s current business operations in the country. Ford would transfer its assets and local workforce in India to the new company.

Ford and Mahindra agreed in 2017 to partner on advanced mobility, connectivity and electric car projects for the Indian market. Last year they expanded their alliance to co-develop electric vehicles and SUVs for emerging markets.