Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Google
Web www.equitybulls.com
Stock Report

| More

Mahindra and Ford Sign Agreements on Powertrain Sharing and Connected Car Solutions

Posted On: 2018-10-17 15:02:41

Mahindra Group and Ford today strengthened their ongoing strategic alliance in India with the signing of two definitive agreements.

The two definitive agreements on powertrain sharing and connected car solutions reinforce the progress made in the strategic alliance between the two companies, first announced in September 2017 and followed up with five Memoranda of Understanding (MoU) in March 2018.

Under the definitive agreement on powertrain sharing, Mahindra Group will develop and supply a low-displacement petrol engine to Ford India for use in its present and future vehicles, starting in 2020. The BS-VI compliant powertrain will help Ford extend and strengthen its existing offering of petrol engines, that currently includes the all-new 3-cylinder TiVCT family.

Building on their intent to co-develop a suite of connected car solutions, Mahindra and Ford also announced joint development of a telematics control unit. Once developed, the connected vehicle solution will be deployed across both Mahindra and Ford vehicles.

Speaking on the occasion, Dr Pawan Goenka, Managing Director, Mahindra and Mahindra Ltd. said, "Today's announcement further builds on commitments made so far, leading to a fruition of exciting new opportunities. We are confident to meet customer expectations by working together on a number of joint development areas. Going forward we will continue to identify the synergies that exist between the two companies."

"We are pleased with the progress our teams have made since we announced our strategic alliance with Mahindra Group a year ago," said Jim Farley, Ford executive vice president and president of Global Markets. "Today we go further in delivering even greater value. With our collaboration in powertrain and connected car solutions, we will deliver an affordable portfolio and enable our Indian consumers to get behind the wheel, feeling more confident and connected."

Both companies continue to make progress on the remaining MoUs signed earlier this year. This includes leveraging their respective strengths on product development for India and emerging markets, including co-development of compact SUVs and electric vehicles.

Aiming to generate synergies and improve efficiencies, the strategic alliance between the two companies focuses on leveraging the benefits of Ford's global reach and expertise and Mahindra's scale in India and its successful operating model.

Mahindra has led the utility vehicles segment in India for the past seven decades. The spirit of ingenuity has driven Mahindra to be amongst the few global companies pioneering the development of clean and affordable technology and is the only player with a portfolio of electric vehicles commercially available in India. Expanding its global presence, Mahindra owns a majority stake in Ssangyong Motor Company in Korea, and it has entered into the shared mobility space with investments in ridesharing platforms in the U.S. and is developing products like the GenZe - the world's first electric connected scooter.

Ford was among the first global automakers to enter India in 1995. Now one of the largest exporters of cars from the country, Ford manufactures and exports vehicles and engines from its manufacturing facilities in Chennai, Tamil Nadu and Sanand, Gujarat. India is also the second largest Ford employee base globally, with more than 14,000 people working across the Ford India or Global Business Services operations in New Delhi, Chennai and Coimbatore.

Shares of MAHINDRA & MAHINDRA LTD. was last trading in BSE at Rs.778.3 as compared to the previous close of Rs. 748.6. The total number of shares traded during the day was 356597 in over 5331 trades.

The stock hit an intraday high of Rs. 782 and intraday low of 751.25. The net turnover during the day was Rs. 275473973.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

Cigniti Technologies Ltd reports PAT of Rs. 49.52 crores in Q2 FY19

BLS International Services Ltd consolidated PAT up at Rs. 32.99 crores in Q2 FY19

COAL India Ltd consolidated net profit in Q2 jumps to Rs. 3084.70 crores

IZMO Ltd consolidated Q2 net profit falls to Rs. 1.78 crore

NALCO Q2 PAT jumps to Rs. 510 crores

Jindal Poly Films Ltd reports loss of Rs. 10.65 crores in Q2 FY19

Vindhya Telelinks Ltd Q2 FY19 PAT zooms to Rs. 55.74 crores

Hitech corporation Ltd Q2 net profit surges to Rs. 3.29 crores

Frontline Securities Ltd reports PAT of Rs. 1.45 crore

NACL Industries Ltd Q2 net profit lower at Rs. 5.30 crores

Bannari Amman Spinning Mills Ltd Q2 PAT climbs to Rs. 7.18 crores

Artemis Global Life Sciences Ltd reports H1 FY2019 PAT of Rs. 10 crores

Kanco Tea & Industries Ltd Q2 PAT at Rs. 7.74 crores

Permanent Magnets Ltd Q2 PAT surges to Rs. 3.45 crores

Brigade Enterprises Ltd Q2 FY19 PAT rises

Century Extrusions Ltd reports net profit in Q2 FY19

Syschem India Ltd continues to post profit in Q2 FY19

MMTC Ltd Q2 PAT jumps to Rs. 31.68 crores

Cravatex Ltd reports higher Q2 net profit of Rs. 0.75 crore

Balmer Lawrie & Co. Ltd. Q2 net profit increases to Rs. 34.42 crores

Chennai Meenakshi Multispeciality Hospital Ltd Q2 net profit drops to Rs. 0.18 crore

Roto Pumps Ltd Q2 PAT up at Rs. 2.87 crores

CSL Finance Ltd Q2 net profit higher at Rs. 5.89 crores

Rathi Bars Ltd posts PAT of Rs. 1.13 crore in Q2

Hercules Hoists Ltd Q2 net profit vaults to Rs. 5.88 crores

Loyal Textile Mills Ltd Q2 net profit zooms to Rs. 9.02 crores

Mauria Udyog Ltd reports Q2 FY19 PAT of Rs. 2.47 crores

Ravileela Granites Ltd Q2 PAT slides to Rs. 0.48 crore

Hindustan Wires Ltd reports PAT of Rs. 38.10 crores on exceptional item

OIL India Ltd Q2 PAT climbs to Rs. 862.01 crores

National Plywood Industries Ltd reports net profit of Rs. 0.20 crore in Q2

Tasty Bite Eatables Ltd Q2 net profit rises to Rs. 9.32 crores

Gulf Oil Lubricants India Ltd Q2 net profit down to Rs. 40.29 crores

Nitin Castings Ltd Q2 net profit up at Rs. 0.64 crore

Nahar Spinning Mills Ltd Q2 PAT at Rs. 25.58 crores

JK Paper Ltd Q2 FY19 PAT soars to Rs. 109.57 crores

Jyoti Ltd reports net profit of Rs. 1.33 crore in Q2

USHA Martin Ltd consolidated Q2 net profit rises to Rs. 25.27 crores

Shriram EPC Ltd Q2 PAT higher at Rs. 20.54 crores

Uttam Sugar Mills Ltd Q2 loss at Rs. 24.40 crores

Virinchi Ltd Q2 consolidated PAT surges to Rs. 16.63 crores

Suryaamba Spinning Mills Ltd Q2 net profit marginally higher at Rs. 0.77 crore

Laurel Organics Ltd Q2 FY19 net profit at Rs. 1.55 crore

Godrej Industries Ltd reports consolidated net profit of Rs. 189.54 crores in Q2 FY19

Sunflag Iron & Steel Company Ltd Q2 FY19 net profit climbs to Rs. 36.87 crores

Nahar Polyfilms Ltd Q2 net profit declines to Rs. 1.85 crore

Star Cement Ltd Q2 consolidated PAT up at Rs. 38.17 crores

Apex Frozen Foods Ltd Q2 PAT lower at Rs. 19.83 crores

UCO Bank Ltd reports loss of Rs. 1136.44 crores in Q2

Almondz Global Securities Ltd consolidated Q2 net profit up at Rs. 1.68 crore







Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2018