Ford Motor Co and Mahindra & Mahindra are likely to sign a deal next week to for...
) are likely to sign a deal next week to form a joint venture in India, two sources told Reuters, in a move that will see the U.S. carmaker end most of its independent operations in the country.
Under the deal Ford will transfer most of its automotive assets and employees in India to the new company, but the carmaker will retain an engine plant in Sanand in the western state of Gujarat, according to the two sources, who asked not to be named as the talks are private. Ford’s two manufacturing plants - one in Chennai in southern India and the other in Sanand which was inaugurated in 2015 - will be moved to the new joint venture, but Ford will keep the engine plant at Sanand. Together, they have a maximum annual manufacturing capacity of 440,000 vehicles.
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