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Ford and Volkwagen partner up

Car manufacturers said they have entered into an agreement to develop commercial vans and medium-sized pickups that begin as early as 2022.

The companies also agreed to "investigate" how to work together to develop next-generation vehicles. such as electric and self-driving cars.

Both companies also said they were open to considering several vehicle programs in the future.

  Why Ford and Volkswagen come together - but don't marry

Automotive racing to develop new technology and vehicles. Businesses are looking for ways to free billions of dollars to spend on development.

Ford has said it expects to spend $ 11 billion on business restructuring over the next few years, while VW has announced it will spend $ 44 billion by 2023 on an "electric shock" to develop electric cars, self-propelled cars and other new technologies.

"You can't do this alone," said Ford CEO Jim Hackett on a common look Tuesday. "All these efforts will be enhanced by sharing brain power."

"It's no secret that our industry is undergoing fundamental changes due to widespread electrification, ever-stricter emissions regulation, digitization, shifting towards autonomous driving and, not least, changing customer preferences," said Volkswagen CEO Herbert Diess. Reasonable to share investments, pool innovation capabilities and create effects in clearly defined areas. "

While the two companies will share some production plans, Hackett said he did not foresee any workforce reduction in some Ford plants as a result of this alliance. And two CEOs excluded a joint ownership of the two companies.

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