Mahindra & Mahindra, Ford mega joint venture in the works?

Mahindra & Mahindra and US-headquartered Ford are looking to further bolster the India ties and take the next big step in their two decade long relationship in the domestic market. ET Now learns from sources that the automakers have initiated discussions for a mega alliance as part of which Ford is planning to transfer its India business to a proposed JV between both the companies, wherein Ford is likely to have 49 per cent and Mahindra & Mahindra is likely to hold 51 per cent stake. Ashwin Mohan reports.