Ford to join hands with Mahindra for electric vehicle production
Date: 2017-11-22   Author: Dhananjay Punekar  Category: #news

Ford to join hands with Mahindra for electric vehicle production

The Ford Motor Company, a U.S. based automobile manufacturer, and its Indian counterpart Mahindra & Mahindra Limited are likely to manufacture their own electric cars in India to reduce road pollution occurring due to fuel emissions from the automobiles. According to reliable sources, Mahindra & Mahindra, which manufactures e2o micro electric vehicles, is anticipated to develop a new electric vehicle line in the country by collaborating with Ford India.

Earlier in September this year, Mahindra and Ford entered a strategic alliance for jointly working on the production of connected cars, electric vehicles, and their distribution. With both the giant automobile manufacturers endowed with the expertise to develop SUVs, this collaboration is anticipated to result in the rapid expansion of the automobile business across the country. Industry experts also claim that India has a huge potential of becoming the world’s third biggest automobile market. Both the firms are expected to sign a three-year strategic partnership deal, which will help them reduce vehicle production costs, increase their ROI, and create new car models.

The key officials of Mahindra & Mahindra Limited are of the opinion that the production of electric vehicles will support the Indian government’s motive of annihilating gasoline-powered internal combustible engines by 2030, making India a leading business destination for electric vehicles. The announcement of the strategic partnership led to Mahindra’s shares closing at INR 1416 as on 21st November 2017.

As per industry analysts, the hazardous pollution in the country arising due to vehicular emissions and the dire need to maintain the ecological balance has prompted the Indian Government to undertake the initiative of producing cars powered by electricity. Experts also cite that the adoption of growth tactics such as mergers & acquisitions as well as joint ventures between giant automobile firms would most certainly boost the growth of India electric vehicle market.



About Author


Dhananjay Punekar

Dhananjay Punekar

Dhananjay currently works as a content writer at AlgosOnline. A post graduate in mathematics as well as business administration, he worked as a process executive in Infosys BPO Limited before switching his professional genre. Following his childhood passion, he opted fo...

Read More

More from Dhananjay


Post Recommendents

Asia Pacific Passive Fire Protection Materials Market will grow at 9.5% CAGR up to 2024
Author: Rahul Varpe

Based on the end-users, building & construction segment for passive fire protection materials market is projected to grow with CAGR of about 8.5% by 2024. This is attributed to strong persistence by regional regulatory bodies primarily in emer...


Tata Group in talks of acquiring a controlling stake in Jet Airways
Author: Ojaswita Kutepatil

Tata Group is reportedly inspecting Jet Airways’ books as the multinational corporation considers to grow its footprint in India’s growing air travel sector by potentially purchasing a stake in the cash-str...


Ring Main Unit Market is Projected to Reach USD 3 Billion by 2024
Author: Rahul Sankrityayan

Increasing investments in large scale renewable energy projects along with rigorous ongoing efforts toward the expansion of micro-grid network have significantly impelled ring main unit market commercialization. On account of the renewable energy ...