U.S. automakers go it alone in India

Ford hiked its stake in Mahindra Ford India, originally set up as a 50/50 joint venture, to 78% prior to changing the company's name to Ford India Ltd. This share will eventually be lifted to 92.18%, under a proposal already approved by Delhi. Anand Mahindra retains a place on the Ford India board. From now on, however, the new Managing Director Philip Spender and Chairman Terry de Jonckheere will call the shots. …