Sports utility vehicle specialist Mahindra and Mahindra is planning to build an all new electric sedan and the company is discussing with its partner Ford to acquire its vehicle platform.
According to Mint, it looks like a win-win situation for both the companies as Mahindra will share its affordable electric vehicle technologies with Ford. The latter plans to use this technology in its entry-level cars such as Figo and Aspire. Teams from both companies will collaborate and work together for a period of up to three years. Any further strategic cooperation between the two companies will be decided at the end of that period, both the companies said.
Pawan Goenka, managing director, Mahindra and Mahindra, highlighted about the partnership by saying that he changes facing the automotive industry globally are triggered by the accelerated rise of new technologies, sustainability policies and new models of urban shared mobility. Given these changes the company sees the need to anticipate new market trends, explore alternatives and look for ways to collaborate that will allow rapid exploitation of the exciting new opportunities.
Even after more than two decades of operation in India, Ford has failed to get a strong foothold in the domestic market. The company has dramatically shrunk its product portfolio to just five cars including the imported Mustang. Its domestic market share languishes at just around 3 percent.
