A sports utility vehicle (SUV) to be developed as per the agreement signed between diversified conglomerate Mahindra Group and Ford Motor company was expected to hit the market soon, a senior official said Thursday.
Talking to reporters on the sidelines of the launch of new version of compact sedan Aspire here, Ford India, general manager-parts, supply and logistics, R Kanakaraj said, "Ford Motor and Mahindra Group signed a memorandum of understanding (in September 2017) to come out with electric vehicles."
"Under the MoU, it was also proposed to introduce an SUV, which will be expected soon," he said.
Mahindra Group and Ford Motor Company have decided to jointly develop new SUVs and small electric vehicles as part of several initiatives to take forward their collaboration pact signed in September 2017.
When asked about the proposal to come out with electric vehicles, Kanakaraj said, "both the teams (Mahindra and Ford) were on the job".
On the launch of new Aspire, he said, in 2018 the sales of the compact sedan was expected to reach 4.78 lakh units as compared to 4.10 lakh units sold in 2017.
To a query on the rising fuel prices, he said there was some impact on the sales but the compact sedan segment was witnessing a growth.
Kanakaraj claimed that 'Aspire' was the only compact sedan in the country to come with a warranty of five years or one lakh kilometers, which includes a two-year factory and three-year extended warranty.
Source- The Economic Times