Volkswagen, Ford to extend cooperation in face of development costs
Last update: 12/07/2019
HANOVER (Germany), July 12 (dpa) -- Volkswagen and Ford are to extend their cooperation, the German automotive giant announced on Thursday following a meeting of its supervisory board.
The two companies already announced a collaboration on vans and pick-up vehicles earlier this year, in order to save hundreds of millions of euros in development costs.
Further details on new areas of cooperation are to be announced by VW chairman Herbert Diess and Ford chief executive Jim Hackett at a press and investors' conference in New York at 8 am (1200 GMT) on Friday.
The carmakers could join forces on the development of electric and driverless cars, an option mooted by the two automobile bosses in the past.
"The passenger vehicle branch of Ford Europe can not survive independently without working together with another producer in electronic mobility," automotive industry expert Ferdinand Dudenhoeffer said, commenting that the US company currently has "nothing in the pipeline."