India News
Search Web Directory
News Home
Mahindra exploring tie-up with Ford to enter new markets
Posted on 4th September 2018
Nashik: Mahindra and Mahindra Ltd is exploring the feasibility of entering emerging markets such as Indonesia and Russia in partnership with Ford Motor Co. “We are exploring various aspects with Ford; manufacturing, sourcing, engineering or even on the retail front. But things are at a very initial stage (in these markets) to conclude what aspect we will be partnering on,” said Mahindra managing director Pawan Goenka.

In September 2017, Ford and Mahindra said that they are exploring a strategic alliance to “leverage Ford’s global reach and expertise and Mahindra’s scale in India”. The agreement, the firms said, would allow them to combine their strengths during a period of unprecedented upheaval in the automotive industry.

If Goenka’s plans go through, Mahindra will be the first Indian automaker to strike such a global alliance. Analysts say such an arrangement will benefit both auto makers.

“India is emerging as a regional manufacturing hub with scale economies to serve other smaller regional markets. In this situation, Ford can bring the experience in distribution to these markets, combined with the scale economies of manufacturing in India, which would optimize the combined capacity of both partners,” said Rakesh Batra, partner and national auto leader at consulting firm EY.

A similar pact between Tata Motors Ltd and Volkswagen AG failed to make progress after an initial agreement. A wave of consolidation is sweeping through the sector. Toyota Motor Co. has bought Daihatsu, while Nissan has acquired Mitsubishi. General Motors Co. has pulled out of some key markets, including India, and is doubling down on North America and China.

Amid all this, Mahindra has decided to develop products on a global scale, in collaboration with unit Mahindra Automotive North America (MANA) and iconic design firm Pininfarina SpA, Anand Mahindra, executive chairman of Mahindra, said at the launch of the Marazzo multi-purpose vehicle on Monday.

The Marazzo was the first product to be jointly engineered by MANA in Detroit and the Mahindra group’s research and development centre, Mahindra Research Valley (MRV) in Chennai. Pininfarina, which Mahindra bought in December 2015, worked on the design in collaboration with Mahindra’s local design studio in Mumbai.,p>The 1.5-litre, four-cylinder diesel engine on the Marazzo was jointly developed by MRV and Austria-based engineering and power train firm AVL List GmbH. “It (the Marazzo) is a proof of concept of Mahindra’s global network of R&D working together to deliver world-class products,” Mahindra said. “We have the confidence that we can once again use this neural network (of development centres) to deliver.”

Accordingly, Mahindra has already started development of another vehicle at MANA, which would see support from MRV, Pininfarina and Mahindra’s local design centre, Goenka said, without disclosing further details.

The development of Marazzo started four years ago, coinciding with the setting up of MANA. With a new platform, drivetrain, engine and transmission, product development costs for the multi-purpose vehicle are about $200 million, Goenka said. To compare, the Scorpio, launched in 2002 at Mahindra’s Nashik plant, was developed for $120 million.

Product development is increasingly becoming expensive because of regulatory compliances, testing and validation, said Rajan Wadhera, president of the automotive division at Mahindra.

More models on this new platform were under consideration, Wadhera said, adding that the compact sports utility vehicle code-named S201 to be launched this fiscal would be built on the platform with minimal changes.

With large families and businessmen as the target audience, Mahindra had set aside a fungible capacity of 8,000-9,000 units per month between the Marazzo and the S201, said Veejay Ram Nakra, senior vice-president, sales and marketing.

Mahindra hopes to add 9,000-10,000 units to its monthly sales, with three launches planned this fiscal and sees “a substantial” increase in market share, Nakra said.

Related Companies: Mahindra India   Ford India Limited   

Other Latest News
RBI Governance: Under discussion – Board for further examination of framework
Posted on 15th December 2018
The central board of the Reserve Bank of India (RBI) on Friday discussed its governance framework and decided the matter required further examination, the central bank said in a statement on its website.

According to sources privy to the deliberations, Subhash Chandra Garg, economic affairs secretary, made a presentation at the meeting about how the governance structure for the RBI should be examined.

Microsoft’s bug bounty: How this Kerala-based security engineer won an undisclosed amount
Posted on 15th December 2018
In a huge achievement, a Kerala-based application security engineer has won bug bounty from global tech-giant Microsoft for discovering a series of vulnerabilities that left over 400 million Microsoft users’ accounts open to hacking. Reportedly, these accounts were from Office 365 to Outlook emails.

Sahad NK, who works as a security researcher with cyber security portal, came across multiple vulnerabilities and reported to Microsoft. Sahad, with the help of fellow security researcher Paulos Yibelo, reported the bug to the company in June and were fixed by November end.

ONGC board to consider share buyback on Dec 20
Posted on 15th December 2018
State-owned Oil and Natural Gas Corp (ONGC) Friday said its board will consider buyback of company shares at a meeting on December 20.

This follows Government pushing cash-rich PSUs to use their funds to buy back shares or pay a higher dividend. The Government is looking to bridge budgetary deficit through higher receipts of dividend as well as selling its shares in PSUs in the buyback programmes.

Indian Oil shares rise 3.10% on share buyback
Posted on 15th December 2018
Mumbai: Shares of Indian Oil Corp. Ltd rose over 3% Friday after India’s largest oil firm on Thursday said its board of directors approved the buyback of 29.76 crore equity shares of the company for ₹4,435 crore. The share buyback price represents a 8.6% premium to Indian Oil’s Thursday closing price of ₹137.20 on BSE. On Friday, Indian Oil shares rose 3.10%, or ₹4.25, to ₹141.45 apiece on the BSE while the benchmark Sensex closed flat at 35,962.93 points.

Relief to RCom: Supreme Court tells govt to let it sell spectrum to Reliance Jio, but with a condition
Posted on 15th December 2018
The Supreme Court on Friday asked the department of telecommunications (DoT) to grant a no objection certificate (NoC) to Reliance Communications to trade its spectrum with Reliance Jio Infocomm by Monday on the condition that its subsidiary, Reliance Realty, does not redeem the preferential shares without DoT’s nod.

» Post a FREE Classified Advertisement
Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Classifieds Website.
Jobs in India India Real Estate Automobiles Matrimonials Beauty & Fitness

Add a comment for Mahindra exploring tie-up with Ford to enter new markets
Please only use this form to enter comments on the above company. All comments are reviewed before they are displayed on the web site. Not all comments may be displayed. Check back with us to see if your comments have been displayed.
If you want us to email the comments posted by users, please Subscribe by email
Security Code*

Be the first person to write a business review for Mahindra exploring tie-up with Ford to enter new markets

Most Read News

Telangana polls: TRS on course to retaining power if initial trends hold

Extradition of once king of good times’ Vijay Mallya from UK to speed up loan recovery process, says SBI

Axis Bank launches QuikPay Home Loan; a Monthly Instalments Plan

Maruti loses speed as PV growth slows amid rising challenges

Paytm Money enables ‘UPI Payment’ facility for Mutual Fund Investments

More India News

  India Web Directory
Business Profiles
Automotive Directory
IT/ITES/BPO Directory
Hotel Directory
Health Directory
Business Directory
Gems & Jewellery
Education Directory
Real Estate Directory
Agriculture Directory
Logistics Directory
Yellow Pages
NRI Guide
Photo Galleries
Global Web Directory
*** FREE India Classifieds
Order Premium Listings
Submit a Site
Business Reviews
About us
Link to us
Contact us
Google Search Keywords: India Catalog, IndiaCatalog, India Web Directory
    © 1999 - 2018
    All Rights Reserved
Privacy Statement