United Kingdom  

Trusted News Discovery Since 2008
One News Page
> > >

Ford, VW join forces on electric, autonomous cars

Video Credit: Reuters Studio - Duration: 01:17s - Published < > Embed
Ford, VW join forces on electric, autonomous cars

Ford, VW join forces on electric, autonomous cars

Ford and Volkswagen joined forces to develop autonomous and electric cars on Friday and said they were also looking at other areas of cooperation, deepening a global alliance to slash development and manufacturing costs.

Francis Maguire reports.


Ford, VW join forces on electric, autonomous cars

Another car industry tie-up Friday in the race to develop electric and autonomous vehicles.

U.S. automaker Ford and Germany's Volkswagen the latest to join forces and pledge billions of dollars in investment.

The venture strengthens an alliance between the two companies to slash development and production costs.

They already cooperate in commercial vehicles as part of the industry's wider effort to redraw production and sales footprints.

But Friday's announcement marks their first joint move into electric and autonomy development.

VW said it will invest $2.6 billion in Ford's self-driving cars venture Argo AI.

While Ford will build an electric car using VW's MEB electric vehicle platform.

Ford expects to build more than 600,000 electric vehicles in Europe over six years.

They will source components and the vehicles' underpinnings from VW, which helps both companies drive down costs.

VW will contribute its Autonomous Intelligent Driving company to Argo and pay $500 million over three years to Ford for shares in Argo.

The joint venture follows a trend among car manufacturers.

In June VW's German rival BMW teamed-up with Britain's Jaguar Land Rover to jointly develop electric motors.

You Might Like

Tweets about this

Recent related videos from verified sources

The-all new 2020 Ford Escape Driving Video [Video]The-all new 2020 Ford Escape Driving Video

With the reveal of the stylish new Ford Escape, featuring the small SUV's best-ever performance, flexibility and smart new technology, Ford is reinventing the model that helped drive the popularity of..

Credit: AutoMotions     Duration: 03:04Published

2020 Ford Escape Hybrid and Plug-In Hybrid Preview [Video]2020 Ford Escape Hybrid and Plug-In Hybrid Preview

The fourth generation Escape brings back the powertrain taxi drivers found durable and efficient - the hybrid. This time around thereโ€™s a plug-in version that Ford claims will cover 30 miles on..

Credit: AutoMotions     Duration: 03:07Published

Environmentally friendly: One News Page is hosted on servers powered solely by renewable energy
© 2020 One News Page Ltd. All Rights Reserved.
About us  |  Contact us  |  Disclaimer  |  Press Room  |  Terms & Conditions  |  Content Accreditation
 RSS  |  News for my Website  |  Free news search widget  |  In the News  |  DMCA / Content Removal  |  Privacy & Data Protection Policy
How are we doing? FeedbackSend us your feedback  |   LIKE us on Facebook   FOLLOW us on Twitter  •  FOLLOW us on Pinterest
One News® is a registered trademark of One News Page Ltd.