Ford Motor Co. is reversing plans to cede most of its Indian operations to Mahindra & Mahindra Ltd ., deciding to pull out of a proposed joint venture and continue its standalone business in the country. The two companies agreed to terminate the venture after reassessing in part due to the global coronavirus pandemic, they said Thursday. “The company is actively evaluating its businesses around the world, including in India," Ford said a statement. Mahindra said in its own statement the venture’s termination wouldn’t affect its product plans. Jim Farley, who became the U.S. automaker’s chief executive officer in Oct., said last year the JV with Mahindra could allow Ford to double its revenue from India.

Source: Mint January 01, 2021 00:33 UTC