Volkswagen AG Supervisory Board approves further projects
Volkswagen and Ford anticipate signing final agreements in the areas of electrification and commercial vehicles in the near future
Landmark in Volkswagen-Ford global alliance: The Volkswagen AG Supervisory Board approved further contracts under the cooperation with Ford Motor Company announced last year. The next milestones in the vehicle projects are anticipated to be implemented in near the future with the signatures of both companies. Three pro-jects in the areas of electrification and commercial vehicles are planned to be realized as a first step. The Volkswagen-Ford global alliance – which does not involve cross-ownership between the companies – is expected to create annual efficiencies for each company.
Additional projects may follow, as well as the investment in Argo AI, the autonomous vehicle platform company. Through the cooperation, both manufacturers plan to realize significant synergy effects from shared development costs as well as production synergies.