Mahindra, Ford to form joint venture for India

Mumbai: Car manufacturing giants Mahindra and Ford announced a joint venture for India. The carmakers will co-develop vehicles and manage sales together. Mahindra Group chairman Anand Mahindra announced the joint venture. Ford chairman Bill Ford also addressed the gathering via video conference. The new venture will be operational from 2020. The joint venture is expected to help manufacturers trap emerging markets including Middle East and ASEAN.