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India's Mahindra, U.S. carmaker Ford to develop SUVs, electric vehicle

NEW DELHI (Reuters) - India's Mahindra & Mahindra <MAHM.NS> and U.S. carmaker Ford Motor Co <F.N> have signed an agreement to develop midsize and compact sports utility vehicles (SUV) and an electric vehicle, the companies said in a joint statement on Thursday.

(Reporting by Aditi Shah; Editing by Raju Gopalakrishnan)