Investing.com investing.com 01 Jan, 2021 12:15 am

India's Mahindra to focus on SUVs, electric after ending Ford JV talks By Reuters

India's Mahindra to focus on SUVs, electric after ending Ford JV talks By Reuters
India's Mahindra to focus on SUVs, electric after ending Ford JV talks

We clearly hold the ambition to be a global brand and there again the electric journey is an important one," Shah said.Mahindra's high-end electric vehicle Pininfarina Battista is a starting point, Shah said, adding that the automaker would look at developing more electric platforms in India to build SUVs for the local and export markets.Its total investment in the SUV-maker is $264 million and the extent of the write-off would depend on what deal is agreed, Shah said.FILE PHOTO: The logo of Mahindra and Mahindra is seen at a showroom in Mumbai p NEW DELHI (Reuters) - Mahindra & Mahindra Ltd will focus on developing its core portfolio of sport-utility vehicles (SUVs) and their electric version, a senior executive said on Friday after the company ended joint venture talks with Ford Motor (NYSE: F ) Co.

Mahindra said on Friday it is close to agreeing a deal with a potential investor for its majority stake in Ssangyong, which has been placed in receivership.Anish Shah, the deputy managing director, said Mahindra will focus mainly on large SUVs for its core India market in the short term and move to electric in the medium term, as it charts a new strategy for its automotive business.

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