Mahindra group and Ford Motor Co will jointly develop new SUVs and a small electric vehicle as part of several initiatives announced on Thursday to take forward their collaboration pact signed last year.
The two companies said they have signed five new memoranda of understanding (MoU) that further strengthen their strategic alliance and accelerate the development of key products for consumers in India and emerging markets.
Under the initiatives, Mahindra and Ford will leverage their strengths in the utility vehicle space to co-develop a midsize sports utility vehicle (C-SUV), the companies said in a joint statement.
The SUV will be built on the Mahindra platform and will be sold independently by both companies as separate brands, it added.
“Mahindra and Ford also agreed to evaluate co-development of a compact SUV and electric vehicle, along with sharing powertrain portfolios, including the supply of Mahindra powertrains to extend Ford's product range,” it added.