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Current Affairs

CCI approved Mahindra, Ford Motor Joint Venture

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.
CCI approved Mahindra, Ford Motor Joint Venture 
  • 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
CCI approved Mahindra, Ford Motor Joint Venture CCI approved Mahindra, Ford Motor Joint Venture Reviewed by Neha Verma on February 12, 2020 Rating: 5

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