MUMBAI - Indian automaker Mahindra and Mahindra Ltd and Ford Motor Co said on Monday the two companies are exploring forming a strategic alliance.
"The agreement of intent between the two companies will allow each to leverage their mutual strengths during a period of unprecedented transformation in the global automotive industry," the two companies said in a joint statement.
The areas of potential co-operation include mobility programs, product development, distribution within India and global emerging markets among other things.
"Teams from both companies will collaborate and work together for a period of up to three years. Any further strategic cooperation between the two companies will be decided at the end of that period," the statement said.