Mahindra to help Ford expand locally

Mahindra Group and Ford enter a strategic alliance for powertrain sharing and providing connected car solutions in the Indian market.

For powertrain sharing, Mahindra Group will develop and supply BS-VI compliant, low-displacement petrol engine to Ford India for installation in its present and upcoming vehicle variants, starting in 2020. This engine will enable Ford extend its existing offering of petrol vehicles. Mahindra Group and Ford signed five Memoranda of Understanding (MoU) in March this year, which were followed up by these two definitive agreements.

Under the agreement for connected car solution, the two auto majors will also jointly develop a telematics control unit for connected vehicles. On development, the technology will be deployed in both Mahindra and Ford vehicles.

Meanwhile, the stock of Mahindra & Mahindra Limited closed at Rs. 756.00 per share, down by 2.87 per cent on Wednesday. The stock opened at Rs. 788.20 per share, and saw a intraday high of Rs. 790.65 and low of Rs. 751.75 per share during the day in which the benchmark index BSE Sensex was at 34,779.58, down by 382.90 points or 1.09 per cent.