FORD Motor Co. is reversing plans to cede most of its Indian operations to Mahindra & Mahindra Ltd., deciding to pull out of a proposed joint venture and continue its standalone business in the country.
FORD Motor Co. is reversing plans to cede most of its Indian operations to Mahindra & Mahindra Ltd., deciding to pull out of a proposed joint venture and continue its standalone business in the country.
The companies agreed to terminate the venture after reassessing in part due to the global coronavirus pandemic, they said Thursday.
The decision ends a deal reached more than a year ago under which Ford was expected to fold its local operations, including two factories, into a JV that would be majority-controlled by Mahindra, a leading Indian manufacturer of sport utility vehicles.
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