Deals
Ford to Put Struggling India Business Into JV With Mahindra
- Mahindra set to hold 51% of new joint effort, Ford the rest
- Global carmakers are gasping in market dominated by Suzuki
This article is for subscribers only.
Ford Motor Co. is set to transfer most of its assets in India to a joint venture with Mahindra & Mahindra Ltd. after failing to make meaningful inroads for more than two decades in the world’s fourth-largest automobile market, people with knowledge of the matter said.
Mahindra, one of India’s largest automakers, will own 51% of the new entity, said the people, who asked not to be identified discussing the confidential plan. Ford will get equal voting rights and board representation, one of the people said. The venture, to be announced as soon as next week, doesn’t include Ford’s global business services division or an export-focused engine plant in Sanand.