Reuters reveals Ford likely to end independent India business with new Mahindra deal

Reuters reported exclusively that Ford Motor Co is nearing a deal with local automaker Mahindra & Mahindra to form a new joint-venture company in India, a move that will likely see the U.S. company cease independent operations in the country. Under the terms of the deal being negotiated, Ford will form a new unit in India in which it will hold a 49 percent stake, while Mahindra will own 51 percent, Reuters sources said. The U.S. carmaker’s Indian unit will transfer most of its current automotive business to the new entity, including its assets and employees.