Company shifts focus

NEW DELHI - Mahindra & Mahindra Ltd will focus on developing its core portfolio of sport-utility vehicles (SUVs) and their electric version, a senior executive said on Friday after the company ended joint venture talks with Ford Motor Co.

Anish Shah, the deputy managing director, said Mahindra will focus mainly on large SUVs for its core India market in the short term and move to electric in the medium term, as it charts a new strategy for its automotive business.

“We are going back to our core,” Mr Shah, who will take over as managing director from April, told Reuters.

“We are going to look ahead at how we can accelerate our investment in electric and really start moving to the new age. We clearly hold the ambition to be a global brand and there again the electric journey is an important one.”

Mahindra's high-end electric vehicle Pininfarina Battista is a starting point, Mr Shah said, adding that the automaker would look at developing more electric platforms in India to build SUVs for the local and export markets. Mahindra and Ford late on Thursday called off their automotive joint venture because of the COVID-19 pandemic, which prompted them to reassess their capital allocation priorities.