MUMBAI, April 18 (Xinhua) -- India's auto major Mahindra & Mahindra (M&M) has entered into a pact with Ford Motor to co-develop a midsize sports utility vehicle (SUV), a Mahindra release said on Thursday.
Under the new agreement, Mahindra and Ford will work together to introduce the midsize SUV as a benchmark product for India and emerging markets that will have a common Mahindra product platform and powertrain, thus driving engineering and commercial efficiencies, the release said.
"Having identified several areas for joint development, both companies will continue to work together to develop products using common product platforms. This will reduce product development costs and gain economies of scale for both companies," Pawan Goenka, managing director of M&M said.
The two companies had entered into a strategic alliance in September 2017 followed by an announcement on powertrain sharing and connected car solutions in October 2018.
"Ford's technological leadership combined with Mahindra's successful operating model and product prowess will surely help us deliver a vehicle that will meet the expectations of customers in India as well as other emerging markets," Jim Farley, president of Ford New Businesses, Technology & Strategy said.