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Mahindra, Ford announce joint venture for India

Car manufacturing giants Mahindra and Ford announced joint venture for India. The carmakers will co-develop vehicles and manage sales together. Mahindra Group Chairman Anand Mahindra announced the joint venture. Ford Chairman Bill Ford also addressed the gathering via video conferance. The new venture will be operational from 2020. The JV is expected to help the manufacturers to trap emerging markets including Middle East and ASEAN.