Masterstroke by Mahindra and Ford ,launched new joint venture||hostcar.in

Meanwhile, Ford Motor Company and Mahindra & Mahindra have signed a aggreement  and launched a joint venture(JV).Under this agreement Mahindra & Mahindra will control 51% stake and Ford has 49%.

Speaking on the new joint venture, Anand Mahindra, Chairman, Mahindra Group said, "Mahindra and Ford coming together is a testament to the long history of cooperation and mutual respect between the two companies. Our combined strengths - Mahindra's expertise in value-focused engineering and its successful operating model, and Ford's technical expertise, global reach and access to future technology - are a potent recipe for success. At its core, the partnership will be driven by the shared values of both companies, which are focused on caring for our customers, associates and our communities."

Ford Motor Company, Executive Chairman, Bill Ford said, "Ford and Mahindra have a long history of working together, and we are proud to partner with them to grow the Ford brand in India. We remain deeply committed to our employees, dealers and suppliers, and this new era of collaboration will allow us to deliver more vehicles to consumers in this important market."

evoindia.com

I find out some important point after reading the full article .This is not official agreement  which i have provide here .Here i assumed that agreement may contain this points.

Agreement Contains

• This joint venture will develop, market and distribute Ford vehicles in India. 
• They will continue to operate out of independent dealer networks. Ford though will retain the engine plant operations at Sanand along with the Global Business Services unit, Ford Credit and Ford Smart Mobility.
• The JV will  see the brands co-develop 3 new UVs for Ford starting with a new mid-size SUV
• The joint venture will be responsible for growing Ford's presence in India and exporting its products the company's entities globally.
• 
  
• The newly developed products will not only cater to India but several other emerging markets globally. The JV will see Mahindra leverage Ford's global presence to enter newer markets and export its products. At present, the Indian auto giant's exports stand at about sevent per cent of its total automotive business revenues. The brands will also maximise economies of scale in the automotive value chain including sourcing, product development and access to new technologies.

"Emerging economies including India are expected to account for one in three future vehicle sales," said Pawan Goenka, Managing Director, Mahindra & Mahindra Limited.

"The creation of this joint venture is a pivotal moment in both our companies' histories. Strong alliances such as this play a crucial role for Ford to compete profitably in the high-volume, affordable vehicle segments so popular with our diverse customer base. By combining our respective talents, we will offer more vehicles to more customers in more places than ever before and deliver profitable growth to both Ford and Mahindra," said Jim Farley, president of Ford New Businesses, Technology & Strategy.

Also Read :Short review of Renault Triber||hostcar.in