April 18, 2019 / 5:50 AM / 5 months ago

Mahindra signs deal with Ford Motor to make midsize SUVs in India

FILE PHOTO: The logo of Mahindra and Mahindra is seen at a showroom in Mumbai, August 30, 2016. REUTERS/Danish Siddiqui/File Photo

(Reuters) - Automaker Mahindra and Mahindra Ltd signed a deal with Ford Motor Co’s Indian unit to jointly develop midsize sports utility vehicles in India, the company said on Thursday.

Ford and affiliate companies will invest 6.80 billion rupees ($97.97 million) for the development of the vehicles over a period of 10 years, Mahindra said in a statement here

Reporting by Krishna V Kurup in Bengaluru; Editing by Gopakumar Warrier

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