Ford Motor Co. and India's Mahindra Group have agreed to explore forming a strategic pact in a variety of fields such as development of electric vehicles, mobility programs and connected vehicles.
"The agreement between the two companies will allow each to leverage their mutual strengths during a period of unprecedented transformation in the global automotive industry," the two companies said in a joint statement.
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Teams from the two companies will work together for up to three years and a decision on further cooperation will be taken at the end of that period, they added. Mahindra will be able to gain from Ford's global reach, while Mahindra's strong presence in the Indian market is expected to benefit Ford.
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(END) Dow Jones Newswires
September 18, 2017 10:52 ET (14:52 GMT)