Ford today announced a partnership with Indian automaker Mahindra Group, specifically for the co-development of new SUVs and an electric vehicle. The two companies will also share powertrain portfolios, meaning we could soon see Mahindra engines under the hood of Ford's global product range.

The first new SUV will be based on one of Mahindra's platforms. Ford refers to it as a C-SUV, so it could be roughly the same size as the brand's existing Escape. According to the agreement, the C-SUV will be sold independently by both Ford and Mahindra.

The two companies will also co-develop a compact SUV -- something smaller than the aforementioned mid-size utility vehicle -- as well as a small electric vehicle. In a similarly vague statement, Ford and Mahindra also agree to co-develop "a suite of connected car solutions for consumers."

Ford and Mahindra will work together for "a period of up to three years," according to Ford's announcement. The Dearborn, Michigan-based automaker plans to "extend support for Mahindra in global emerging markets, including Ford's manufacturing and distribution network."

"Both teams are working together on joint development areas in keeping with industry requirements and leveraging multiple strengths," Dr. Pawan Goenka, managing director of Mahindra and Mahindra Ltd., said in a press release. "We are excited about the synergies unveiled through this collaboration and the potential opportunities it will bring."