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home / news releases / F - Ford Mahindra call off India auto JV

F - Ford Mahindra call off India auto JV

Ford Motor Company
Ford (F) says it is pulling out of a proposed automotive joint venture with India's Mahindra (MAHDY) due to the challenges caused by the COVID-19 pandemic and continue its standalone business in the country.The decision ends a deal reached more than a year ago in which Ford and Mahindra would form a joint venture in India in a move to cut costs for developing and producing vehicles for emerging markets, hoping to launch three new utility vehicles and jointly develop electric vehicles for emerging markets.Ford CEO Jim Farley said the JV with Mahindra could allow Ford to double its revenue from India.Ford has multiple growth drivers coming out the pandemic, and its stock is nearing a potentially large breakout, Mott Capital Management says in a bullish analysis published recently on Seeking Alpha.

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Ford, Mahindra call off India auto JV
Stock Information
Company Name: Ford Motor Company
Stock Symbol: F
Market: NYSE
Website: ford.com
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