US-based Ford Motor Co invested more than $2 billion in India but has been grappling with snags for nearly two decades. It currently has a market share of just 3 percent in India.
Anurag Mehrotra, Managing Director of Ford India was the curator of Mahindra & Mahindra Limited and Ford Motor Company. He is set to take over as the chief executive of their joint venture on April 1. Ford India posted a profit
Both companies had signed a definitive agreement to create a joint venture on October 1, 2019, that will develop, market and distribute Ford brand vehicles in India and Ford brand and Mahindra brand vehicles in high-growth emerging markets around the world. By the agreement terms, Ford will form a new unit in India in which it will hold a 49 percent stake, while Mahindra will own 51 percent.
Anurag Mehrotra will join Mahindra Ford Automotive before formally taking over the as the Joint Venture’s CEO and will report to Mahindra’s managing director Pawan Goenka and the JV’s board that will have equal representation from the two partners.
Pankaj Sonalkar would become the chief operating officer and will oversee manufacturing, purchasing, product development, and quality and will report into Mehrotra.
Raghu Veeraraghavan has joined Mahindra as the head of strategic sourcing and he would steer sourcing for a nine-product portfolio being planned by the partners.
Sachin Arolkar is currently Mahindra Yueda (Yancheng) Tractor Company Limited’s President & CEO has been named for the Chief Financial Officer in JV.
Abhimanyu Sen is currently Senior General Manager and HR Head at Mahindra and Mahindra Limited and has been named for the HR Head in JV.
A combined statement of Mahindra-Ford confirmed the appointments.
“All designate appointments will be effective from April 01, 2020. The team will work together to grow the joint venture both within India and globally as well as deliver profitable growth to Mahindra and Ford alike,” the statement said.”
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