Ford and Volkswagen partner to invest autonomous and electric vehicles

By Sophie Chapman
The automobile manufacturers, Ford and Volkswagen, has announced plans to invest billions of dollars in autonomous and electric vehicles. The US and Ge...

The automobile manufacturers, Ford and Volkswagen, has announced plans to invest billions of dollars in autonomous and electric vehicles.

The US and German companies will launch new joint ventures that will see them share intellectual property and hardware, according to the firms’ executives, CNBC reported.

Ford and Volkswagen’s CEOs, Jim Hackett and Dr Herbert Diess, will host a press conference on 12 July to update on their global alliance.

“The companies also will share details of new collaborations also aimed at better serving their customers while improving each company’s competitiveness and capital efficiency,” stated a press release.

SEE ALSO:

“In January, Ford and Volkswagen AG announced a global alliance with initial plans to develop commercial vans and medium-sized pickups for global markets beginning as early as 2022.”

“In addition, Volkswagen AG and Ford signed a memorandum of understanding to investigate collaboration on autonomous vehicles, mobility services and electric vehicles.”

According to the executives, the deal will see Volkswagen enable Ford to access its underlying platform to anchor electric vehicles.

The Germany automaker also has plans to invest in the Pittsburgh-based research business Argo AI.

Ford became a lead investor in the autonomous vehicle-focused firm when it provided US$1bn in finances in 2017.

Share
Share

Featured Articles

Top 10: Sustainability conferences around the world

With 2023 in full swing, what better time to look at what the year ahead offers in terms of international conferences focusing on sustainability

Top 10: Sustainable data centre companies

As data and data analytics becomes an increasingly pivotal, we take a look at what data centre companies are doing a good job of staying green

Payments company Flywire issues extensive ESG report

The company, which holds ESG as a key tenet, can claim a number of achievements, including creating a more equitable workspace and awarding scholarships

UN envoy Bloomberg unveils plan to limit coal use

Net Zero

Irizar's ieTram EV to be installed along London bus route

Sustainability

Decathlon flips branding in sustainable fashion initiative

Supply Chain Sustainability