Ford Mahindra partner on small electric vehicle some SUVs

Ford and Mahindra Group are teaming up to develop a small electric vehicle and some new SUVs. The companies, which partnered with each other in September, said Thursday that they’ve signed five new memoranda of understanding that will speed up the development of key products for consumers in India and emerging markets.The companies plan to co-develop a midsize SUV that’ll be sold independently by both businesses as separate brands. They also agreed to evaluate co-development of a compact SUV and electric vehicle.Teams from both companies will continue to work together for up to three years to develop further ways to cooperate.Shares of Ford Motor Co., based in Dearborn, Michigan, fell 2 percent to $10.88 in midday trading. Explore further © 2018 The Associated Press. All rights reserved. Ford pledges to revamp aging product line, add SUVs, by 2020 This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only. Citation: Ford, Mahindra partner on small electric vehicle, some SUVs (2018, March 22) retrieved 18 July 2019 from https://phys.org/news/2018-03-ford-mahindra-partner-small-electric.html

Leave a Reply

Your email address will not be published. Required fields are marked *