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F - Ford's New Joint Venture in India Is an Expensive Good Move
Ford Motor Company
Ford Motor Company (NYSE: F) has confirmed that it's forming a joint venture with Indian automaker Mahindra & Mahindra Ltd. (OTC: MAHMF) that will take over much of Ford's struggling business in India.
The new joint venture will be valued at $275 million, far below the roughly $2 billion Ford has spent trying to become a major player in India's new-car market. But it still might be a good deal -- or at least the best available option -- for the Blue Oval's Indian operation.