New Delhi March22- US auto major Ford Motors and country’s leading sports utility vehicle maker Mahindra and Mahindra yesterday jointly signed an agreement to develop midsize and subcompact subs and electric vehicles. Ford ias also planning to sell those vehicles in other markets according to a spokes person of Ford Motors. Both of the companies announced to form a strategic alliance last September. The two auto giants will develop a midsize sports utility vehicle and an electric vehicle which both of them will sell as separate brands outside India. The automobile manufacturers are nowadays facing enough pressure from the policymakers to manufacture green vehicles like
hybrid and electric vehicles. The companies are also trying to analyses the possibility of the export of the vehicles of the Mahindra –Ford joint venture. The Central Government has a plan to convert all the vehicles to electric vehicles. Hence Ford authorities believe that this joint venture will help the company to access lower cost electric vehicles and also help it to give a tough competition to other foreign auto –manufacturers.