US and German brands will announce Friday the steps they will follow in their global deal.
They will form a joint venture that will give Ford access to the VW platform that serves as the basis for their electric cars.
VW will in turn participate in Argo AI, a research firm part of which Ford owns, which specializes in the development of autonomous vehicles.
Ford and Volkswagen will announce this Friday details of the new companies of autonomous and electric vehicles that will form together together in these two technologies that change the global automotive industry.
The agreement that will be "Billion Dollar Investments", as expected, will allow companies to share intellectual property, software, and hardware published by CNBC.
The details will be given in a joint press conference Friday morning in New York (8am). There they will "provide up-to-date information on their global alliance" and "share details of new collaborations that also aim to better serve customers and improve the competitiveness and capital of each company."
The key word will be "efficiency," they said.
Although no previous data was officially given, the US media says this Volkswagen will give Ford access to the main platform VW will mount electric vehicles that it plans to launch in the middle of the next decade.
Meanwhile, Volkswagen will invest in the research firm Argo AI, which Ford owns and specializes in developing autonomous vehicles.
Ford and the German brand negotiate forms of association in a wide range of operations. In January, they announced their first agreement: a joint venture focused on commercial vehicles such as the Ford Transit.
At that time, the leaders expected to continue to seek opportunities for joint agreements, such as the one that will materialize this Friday.
The conference can be traced live here.
In the tune
In 2018 Ford earned $ 160.3 billion in revenue worldwide. Meanwhile, VW recorded earnings that reached $ 265 million in the same year.
The partnership that began in January with the sale of minibuses and medium-sized commercial wagons will now continue with autonomous and electric vehicles and will be consolidated in 2022. it will not mean a merger or a shareholding between the two companies.
The Alliance is vital for Ford. Sector analysts understand that this is the last big bet on Executive President Jim Hackett, who took office in 2017 and failed to wake the Detroit giant.
Ford has announced in recent months: a a plan to cut jobs, terminate vehicles and close down t as part of an effort to make business profitable in the Old Continent.
The VW and Ford agreement is not the latest in the industry. Nissan and Renault Continuing with his, FCA wanted to join Renault – and failed – and PSA and Citroën were advancing together in Europe.