Volkswagen and Ford will create an alliance for the development of vans and pickups

Volkswagen and Ford will create an alliance for the development of vans and pickups

January 22, 2019 0 By autotimesnews

Volkswagen and Ford announced the creation of an alliance for the development of cargo vans and mid-size pickups. This is stated in a joint press release of the companies. Companies have signed an agreement. The parties also agreed to cooperate in the development of self-driving cars and electric vehicles.

In a joint statement, automakers noted that Volkswagen and Ford plan to launch new models of vans and pickups on the global market in 2022. According to company estimates, the creation of the alliance will improve the operating profit from 2023. The Alliance will increase the scale and efficiency of operations to divide among themselves investments in architecture of cars, it is specified in the message.

“Over time, this alliance will help both companies increase revenues. It will not only significantly increase efficiency and improve the condition of both companies, but also give us the opportunity to cooperate in the formation of the next era of mobility, ” – says Ford CEO Jim Hackett in the message.

The press release notes that the creation of the alliance does not provide for the exchange of shares between companies. The alliance will be managed by a special committee headed by Hackett and Volkswagen CEO Herbert Diss. This committee will also include top managers of both companies.