Mahindra Group and Ford Motor comp to jointly develop new SUVs, EV

Chennai, March 22: Mahindra Group and Ford Motor Company on Thursday announced that they will jointly develop new SUVs and a small electric vehicle (EV).

The development comes as the two companies signed five new memoranda of understanding (MoU) that further strengthen their strategic alliance and accelerate the development of key products for consumers in India and emerging markets.

According to the two companies, the MoUs, which are non-binding, mark the progress made by the two companies since announcing their alliance in September 2017.

"Under the initiatives, Mahindra and Ford will leverage their strengths in the utility vehicle space to co-develop a midsize sports utility vehicle (C-SUV)," the two companies said in a statement.