Mahindra & Mahindra and Ford are in the final stages of formalising the MoU the two companies decided to ink in September last year. The strategic alliance aims to leverage the benefits of individual strengths of the two companies.
According to a new report by ET Auto, Ford will borrow Mahindra's platform for the next generation XUV500 for a new C-segment SUV. Codenamed W601, the product will sit between the Ford EcoSport and the Ford Endeavour. The information was revealed to the publication by individuals close in the know of the partnership. The two companies have not made any official announcements.
The report adds that Ford aims to match Mahindra's cost structure which is 10-12% lower than theirs. Leveraging platform(s) from Mahindra will help the American car maker achieve that and also accelerate the product development process helping to bring new vehicles to the market sooner.
Also Read - Ford Aspire Electric coming next year
In India, the company intends to launch a new crossover in the in the next quarter called Ford Freestyle. It will also be joined by the facelifts of the Figo and Aspire. It is currently developing a Maruti Baleno/Hyundai i20 rival for launch in the Indian market. The new B563 platform will underpin a new sedan to rival the Honda City and Maruti Ciaz as well. The hatchback will be the first to arrive with a launch expected sometime in 2020.
[source - ET Auto]