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அவதூறு பரப்பிய பிரபல யு-டியூப் நிறுவனங்களிடம்  ஐந்து கோடி நஷ்ட ஈடு கேட்கும் மலேஷிய தயாரிப்பாளர் ! மலேஷியா நாட்டை சேர்ந்தவர் திரு.அப்துல் மால...

Monday 4 January 2021

Mahindra & Ford End Discussions of

 Mahindra & Ford End Discussions of Automotive Joint Venture

 

Mahindra & Mahindra, a part of the USD 19.4 billion Mahindra Group and Ford Motor Company have mutually, amicably determined they will not complete a previously announced automotive joint venture between their companies.  The action followed passing of the December 31, “longstop”, or expiration, date of a definitive agreement the organizations entered into in October 2019.

 

According to the companies, the outcome was driven by fundamental changes in global economic and business conditions – caused, in part, by the global pandemic – since the agreement was first announced.  Those changes influenced separate decisions by Ford and Mahindra to reassess their respective capital allocation priorities.

 

Mahindra said that this decision will not have any impact on its product plan. It is well positioned in its core true SUV DNA and product platforms with a strong focus on financial performance. In addition, Mahindra is accelerating its efforts to establish leadership in electric SUVs.

 

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