Left Menu
Development News Edition

CCI approves formation of Mahindra & Mahindra and Ford Motor joint venture

M&M is publicly traded on the National Stock Exchange and the Bombay Stock Exchange.


CCI approves formation of Mahindra & Mahindra and Ford Motor joint venture
M&M is publicly traded on the National Stock Exchange and the Bombay Stock Exchange. Image Credit: Twitter(@PIB_India)

The Competition Commission of India (CCI) approves the formation of a joint venture between Mahindra & Mahindra and Ford Motor and the transfer of the automotive business of Ford India to the joint venture.

The proposed combination envisages the formation of a joint venture, namely Ardour Automotive Private Limited, between Mahindra and Mahindra Limited (M&M) and Ford Motor Company (FMC); and the transfer of the automotive business (except powertrain business at Sanand) of Ford India Private Limited (FIPL) to the joint venture.

M&M is publicly traded on the National Stock Exchange and the Bombay Stock Exchange. The Mahindra group has diversified interests across various sectors including automotive, farm equipment, agricultural products and services, smaller range power generation equipment, financial services, information technology, logistics, alternative energy, aerospace, steel processing, trading, insurance broking, real estate and infrastructure, and hospitality.

FMC is an American automobile company. It has operations in various countries such as the United States, Canada, Mexico, China, the United Kingdom, Germany, Turkey, Brazil, Argentina, Australia, and South Africa. FIPL it's an indirect wholly-owned subsidiary of FMC.

(With Inputs from PIB)

Download The Devdiscourse News App for Latest News.


TRENDING

OPINION / BLOG / INTERVIEW

Coronavirus lockdowns to speed up long-pending revamping of supply chains

With millions of production lines impacted, business disruptions to some extent are unavoidable and the lessons learned from this turbulence will leave an everlasting impact on both global and local levels of supply chains....

COVID 19 to catalyze the redefinition of urban planning and sustainability

Until now the urban planning was focused on mitigation to natural disastrous, climate change, pollution, chronic illness and lifestyle diseases. However, the global pandemic of novel coronavirus is going to change the whole narrative of urb...

Ebola to COVID 19: Has Geopolitics prevailed over Professionalism in WHO

World Health Organization WHO is perceived as one of the most professional bodies of the United Nations. However, the role of WHO has come under question in handling outbreak two deadly diseases Ebola Viral Disease EVD and novel Coronaviru...

Trade War, COVID 19 and Beyond: How Pandemic is defining a New World Order

While we are confined in our homes, the world is changing faster than ever. Geopolitics in the time pandemic is defining a new world order. The transformation is happening in almost all the walks of life but the million-dollar question is ...

Videos

Latest News

PM failed to handle coronavirus outbreak; should resign immediately: Chandrashekhar Azad

Azad Samaj Party chief Chandrashekhar Azad on Saturday alleged that Prime Minister Narendra Modi has pushed crores of people working in the unorganised sector into destitution and demanded that he resign immediately. He said the central ...

All BJP MPs to release Rs 1 crore from MPLAD funds for coronavirus relief: Nadda

BJP president J P Nadda on Saturday announced that all party MPs will release Rs one crore from their annual development fund to the central relief fund to fight coronavirus pandemic. In his tweets, he also said that all party MPs and MLAs...

Death toll of COVID-19 patients in Mumbai rises to six

The number of deaths of coronavirus patients in Maharashtra rose to six on Saturday as an 85-year-old doctor who died the day before was confirmed to have contracted the virus infection. The man had been admitted to a private hospital on Ma...

Turkey limits transport, opposition calls for 'stay-at-home' order over virus

Turkey halted inter-city trains and limited domestic flights on Saturday, as the main opposition called for a stay-at-home order after coronavirus cases jumped by a third in a day.President Tayyip Erdogan called on Friday for a voluntary qu...

Give Feedback