M&M aims to boost exports with Ford partnership, but market is in a slump

Both companies expect to achieve cost synergies, pare product development time and cost and leverage each other's distribution reach to boost exports

Being a global player in passenger vehicles is a dream Mahindra & Mahindra has harboured for long. Esarlier this month the homegrown maker of sports utility vehicles and tractors decided to give its ambitions wings by stitching up a deal with a foreign partner once again.  

After two years of intense deliberations, which started in September 2017, M&M and Michigan-based Ford Motor have announced a joint venture in which Mahindra will control the majority 51 per cent stake, whereas Ford will transfer its entire India business, excluding the engine vertical, to the new entity. This will be M&M's third deal with