Ford to put its India business into Mahindra joint venture - report

If the deal goes through, it will be latest step in Ford CEO Jim Hackett's drive to staunch the bleeding from the firm's overseas subsidiaries. According to Bloomberg, Ford is currently in discussions with Mahindra about a joint venture in India. The proposed deal would see Ford put most of its Indian assets into the new firm, of which it would own 49 per cent. Both companies will have equal board representation and voting rights in the joint venture.