Mahindra & Mahindra

The European Commission approved the acquisition of joint control over Indian company Ardor Automotive by Mahindra & Mahindra and Ford Motor Company.

Mahindra & Mahindra and Ford Motor Company signed a definitive agreement to create a joint venture, with Mahindra owning 51% and Ford 49%, valued at INR 1,925 crores (US$275 million). Ford will transfer its India operations including assembly plants in Chennai and Sanand to the JV, expected to be operational by mid-2020.

China Automotive Systems (CAAS) has won a bid from Mahindra & Mahindra for dual-pinion electric power steering (DP-EPS) products, with mass production beginning in April 2020 and an annual order of approximately 70,000 units.

Precision Camshafts won contracts from Ford (Rs. 190 crore for 1.5 million camshafts, supply from Jan 2019), General Motors (Rs. 35 crore, supply from Jan 2018), and Mahindra & Mahindra (Rs. 50 crore, supply from Oct 2018).