Down and out for now but not out of the race that is the sense of optimism the M&M management is living on. Just a day after Ford named Tatas to carry on the discussion for JLR the Mahindra management did not shy of the media but kept a close guard. NDTV has learnt that Ford is still in touch with the Mahindras just to ensure it keeps the door open in case the talks with Tatas do not work out eventually.