Mahindra and Ford Motor Co call off proposed JV citing pandemic

Mahindra also expects to close deal with a potential buyer for a stake sale in Ssangyong

Mahindra and Mahindra’s (M&M) second stint with Ford Motor Co as a joint venture partner has ended before it could start.

The two companies have called off the proposed equity collaboration as part of which Ford would have ceded control of the Indian subsidiary to Mahindra. With the JV off the table, the duo will pursue independent strategies in the world’s fifth largest auto market. Meanwhile, M&M is also expecting to conclude a deal with a potential buyer for sale of its stake in Ssangyong Motor Co by February end.

Both the developments reinforce the strategy of a tighter