CCI approves joint venture between Mahindra & Mahindra and Ford Motor

The Competition Commission of India (CCI) has recently approved the formation of Joint Venture (JV) between Mahindra & Mahindra and Ford Motor and the transfer of automotive business of Ford India to the JV.

The new venture to be formed would acquire the automotive business of Ford India Pvt Ltd (FIPL), which is a wholly-owned subsidiary of Ford Motor company. The automotive business includes manufacturing plants of Ford India in Chennai and Sanand (Gujarat).