Ford approaches rival carmakers to explore tie-ups for Indian operations: Report
In January 2021, Ford had called off its proposed joint venture with Mahindra & Mahindra, citing challenges caused by the COVID-19 pandemic.
July 29, 2021 / 10:10 AM IST
Ford has also approached electric vehicle startups such as Ola Electric.
US carmaker Ford has reached out to rival companies to explore partnerships and other arrangements to keep its Indian operations afloat, after cancelling a proposed joint venture with Mahindra & Mahindra earlier this year.
Ford has contacted Skoda-Volkswagen Group, Hyundai Motor, Tata Motors, Shanghai Automotive or MG Motor, Changan Automobiles, to explore partnerships, contract manufacturing opportunities, or even a sale of a facility, The Economic Times has reported.
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The US automaker has also approached electric vehicle startups such as Ola Electric. Ford will likely make a decision within the next two months, sources told the publication.
Moneycontrol could not independently verify the story.
Skoda-Volkswagen, Tata Motors, Hyundai, Ola, Changan and MG had not yet responded when contacted by The Economic Times.
A Ford India spokesperson said the company would not like to comment on "speculations".
"India is an important market for Ford, with more than 16,000 employees, as well as being a source of our global powertrains for Ranger," the spokesperson said. "We are continuing to assess our capital allocations and expect to have an answer in the second half of the year. We have nothing additional to share at this point."
In January 2021, Ford had called off its proposed joint venture
with Mahindra & Mahindra, citing challenges caused by the COVID-19 pandemic.