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Ford exploring strategic alliance with Indian automaker Mahindra

MUMBAI, Sept 18 (Reuters) - Indian automaker Mahindra and Mahindra Ltd and Ford Motor Co said on Monday the two companies are exploring forming a strategic alliance.

"The agreement of intent between the two companies will allow each to leverage their mutual strengths during a period of unprecedented transformation in the global automotive industry," the two companies said in a joint statement.

The areas of potential co-operation include mobility programs, product development, distribution within India and global emerging markets among other things.

"Teams from both companies will collaborate and work together for a period of up to three years. Any further strategic cooperation between the two companies will be decided at the end of that period," the statement said. (Reporting by Swati Bhat; Editing by Muralikumar Anantharaman)