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Ford and Mahindra to join hands for India business

Oct 01, 2019 18:06 IST

Ford Motor Co and Mahindra & Mahindra are all set to form a joint venture company in India, which is expected to be valued at $275 million. The two will develop, market and distribute Ford branded vehicles in the country. The companies had been negotiating a deal for months and have finally agreed on the stakes. Ford will hold a 49% stake in the new entity, while Mahindra will own 51%, Reuters reported.

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