Current context: The Competition Commission of India (CCI) approved the formation of a joint venture between Mahindra & Mahindra and Ford Motor on 10th Feb 2020.
a. Honda Motor Co Ltd. Company
b. Bajaj Auto Limited
c. Ford Motor Company
d. Maruti Suzuki
- The combination envisaged the formation of Ardour Automotive Private Limited, a joint venture between Mahindra and Mahindra Limited (M&M) and Ford Motor Company (FMC).
- The CCI approved the venture with the transfer of the automotive business (except powertrain business at Sanand) of Ford India Private Limited (FIPL) to the joint venture.
- FMC is an American automobile company with operations in various countries across the world. FIPL is indirect wholly owned subsidiary of FMC.
- In October 2019, Mahindra & Mahindra and Ford Motor Company had signed a definitive agreement to create a joint venture in India valued at $275 million (Rs 1,925 crore).
- Mahindra will hold 51% controlling stake in the Joint Venture while Ford will have the remaining stake of 49%.
Question:
Q.1 The Competition Commission of India (CCI) has recently approved the formation of a joint venture between Mahindra & Mahindra Limited and __________?a. Honda Motor Co Ltd. Company
b. Bajaj Auto Limited
c. Ford Motor Company
d. Maruti Suzuki
