On the signed five agreements, the carmakers will share ‘some updates’ in coming days.
In March 2018, Ford and Mahindra & Mahindra had announced their strategic partnership, followed by the plan to co-develop SUVs, electric and connected vehicles. Both the carmakers will also share engines. Ford’s new Dragon petrol could be used for M&M’s compact vehicles and Mahindra’s new-generation BSVI compliant 2.0L diesel motor might power Ford’s C-SUV. Though, the official details on the same are yet to be revealed by the carmakers.
Ford India believes that the new products co-developed with Mahindra & Mahindra will play a pivotal role in the emerging markets. The American carmaker will be able to reduce manufacturing cost of its operating model that will be retailed in the growing nations. On the signed five agreements, the company is reported to share ‘some updates’ in “a short period of time”. Read – Ford & Mahindra To Develop Hyundai Creta Rival
In a bit to strengthen its business in India, the American auto manufacturer worked on four parameters – strong brand, right product, competitive prices and effective scale. With its constant efforts, the company managed to reduce its structural costs by up to 40% in the last two years. The carmaker has confirmed that India will be the first market to receive the Ford-Mahindra partnership products, followed by other emerging markets. Read – Upcoming Mahindra Cars in India
For the first time, Ford’s domestic revenue reached to USD 1 billion by the end March 2018. The total revenue (domestic and exports) stood at USD 4 billion. The top line witnessed a growth between 15-10% per year in the last 24 months.
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