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:

Shriram City Union Finance Ltd announces Q4, FY19 results

Bharti Infratel Ltd Q4 consolidated PAT at Rs. 607.6 crores

Agro Tech Foods Ltd FY19 consolidated PAT up at Rs. 34.25 crores

Mahindra & Mahindra FInancial Services Ltd FY19 PAT jumps to Rs. 1867.28 crores

Benares Hotels Ltd announces net profit of Rs. 8.72 crore in FY 2018-19

Café Coffee Day welcomes summer with absolutely refreshing fruit-based beverages

Max Bupa's #ExYourExcuse campaign encourages people to put their health first

Indiabulls Housing Finance Ltd Board declares Interim Dividend of Rs. 10 for 2019-20

Satia Industries Ltd Board to consider Final Dividend & Sub-division of Equity Shares

PTC India Ltd Board to consider FY19 results & Final Dividend on May 14, 2019

HSIL Ltd board to consider dividend, Q4, FY19 results on May 3, 2019

Britannia Industries Ltd terminates job work contract of Shah Foods Ltd

Loyal Textile Mills Ltd board to consider Q4, FY19 results on May 30, 2019

Indiabulls Housing Finance Ltd Q4 consolidated PAT slips to Rs. 1001.37 crores

Infosys positioned as a Leader in Gartner's Magic Quadrant

USFDA completes audit of Jeevan Scientific Technology Ltd's clinical pharmacology centre

Wall Street Finance Ltd launches 'Mobile App' for the Agent Partners

Astron Paper & Board Mill Ltd announces shut down of Unit-2

Godawari Power and Ispat Ltd calls for board meeting on April 30, 2019

Great Eastern Shipping Company Ltd board to approve FY19 results, NCD issue, dividend on May 6, 2019

TATA Elxsi Ltd reports PAT of Rs. 71.29 crores in Q4 FY19

Hexaware Technologies Ltd Q1 net profit jumps to Rs. 138.47 crore

Muthoot Capital Services Ltd Q4 PAT slides to Rs. 18.35 crore

Ultratech Cement Ltd Q4 consolidated net profit jumps to Rs. 1034.21 crore

Tata Elxsi Ltd Board recommends Dividend of Rs. 13.50

Hexaware Technologies Ltd Board approves Dividend of Rs. 2.50

Akzo Nobel India Ltd board to approve dividend, Q4, FY19 results on May 3, 2019

UltraTech Cement Ltd Board recommends Dividend of Rs. 11.50

Trident Ltd Board to consider FY19 results, Final Dividend & Sub-division of Equity Shares

V-Mart Retail Ltd opens new stroes in West Bengal, UP

Surya Roshni Ltd bags Rs. 231.18 crore order from IOC

Accelya Kale Solutions Limited calls for board meeting on May 3, 2019

Kewal Kiran Clothing Ltd board to approve Q4, FY19 results, dividend on May 4, 2019

No vote, no choice - McDonald's thought provoking social activation urges youth to vote and make a difference

Jubilant Foodworks Ltd board to announce FY19 results, dividend on May 15, 2019

Tata Global Beverages Ltd announces Q4, FY18-19 results

Nucleus Software announces FY19 Financial Results

USFDA retains the OAI status of Indoco's Goa Plant I

CARE BB rating assigned to Trident Texofab Limited

Linde India Ltd board to consider Q1 results on May 13, 2019

Thirumalai Chemicals Ltd board to consider dividend, Q4, FY19 results on May 6, 2019

Prakash Pipes Limited board recommends dividend of Rs. 1.20

ICICI Securities Ltd reports Q4, FY19 results

Coromandel International posts Q4, FY 2018-19 results

Tata Global Beverages Ltd reports lower Q4 consolidated PAT of Rs. 22.90 crore in FY19

Hero Cycles partners with Satin Creditcare Network Limited towards empowering Rural India

Indiabulls Integrated Services Ltd Q4 PAT jumps to Rs. 72.78 crore

Nucleus Software Exports Ltd FY19 consolidated PAT rises to Rs. 74.54 crores

SORIL Infra Resources Ltd FY 2018-19 PAT drops to Rs. 13.95 crores

Sasken Technologies Ltd Q4 FY19 net profit soars to Rs. 27.45 crore







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

disclaimer copyright © 2005 - 2019