Volkswagen Management Approves Ford AllianceMay 29, 2020
The Volkswagen Group’s supervisory board approved several projects at once as part of a multi-billion dollar alliance with Ford Motor.
As noted in the German corporation, it is soon expected to sign several agreements in various fields.
Ford and Volkswagen agreed to form a global manufacturing alliance back in January last year. The partnership starts with the exchange of technologies in the production of commercial vehicles – pickups and light vans. Next will be cooperation in the development of electric cars and autonomous control systems.
Among the debut common projects mentioned pickup and city van. In the future, the German company will share its own developments in the field of electric cars with the European division of the American concern.
Partnership between corporations does not provide for participation in each other’s share capital. At the moment, VW is the largest carmaker in Europe, and Ford is number two in the United States.
Further cooperation provides for the investment of a German company in Argo, an affiliate of the American corporation, which is working on developments in the field of artificial intelligence and unmanned technology. The German concern is going to invest up to $ 3.1 billion in Argo.
In addition, previously held a presentation of the compact crossover Volkswagen Nivus. First of all, the new model will be available in the Brazilian market.
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