A Friend in need is a friend indeed. This old adage aptly sums up the second coming of the Mahindra & Mahindra (M&M) and Ford Motor Company (Ford) alliance. A Friend in need is a friend indeed. This old adage aptly sums up the second coming of the Mahindra & Mahindra (M&M) and Ford Motor Company (Ford) alliance. The two auto majors had first floated an equal (50:50) joint venture (JVs) 23 years ago, in 1995, around the time when the fourth phase of economic reforms (1998-2006) had kicked in, with easier FDI norms and an accent on inducting new technologies. The period saw the birth of several JVs in the automotive segment and the M&M-Ford JV proved a stepping stone for Ford to go it alone with its own manufacturing plant in Chennai. Mahindra, too, is expected to have gained know-how through the partnership. Mahindra Ford India, as the JV was called, had launched its first vehicle, the Ford Escort, in 1996. And in 1998, Ford increased its stake in the company to 72% and renamed it Ford India.