Volkswagen and Ford tie up; will serve customers globally
The two industry majors will work on several projects, development of commercial vehicles is also listed in their agenda
After the Suzuki-Toyota, Ford-Mahindra and Porsche-Audi (for electrification, digitisation and autonomous driving) tie ups, there’s another pair of manufacturers that have decided to work together, this time to develop a range of commercial vehicles. Two of the biggest car manufacturers right now, Ford and Volkswagen AG, have signed this MOU to do so.
“Ford is committed to improving our fitness as a business and leveraging adaptive business models – which include working with partners to improve our effectiveness and efficiency,” said Jim Farley, Ford’s president of Global Markets.
He also added, “We look forward to exploring with the Volkswagen team in the days ahead how we might work together to better serve the evolving needs of commercial vehicle customers – and much more.”
Both the manufacturers have confirmed that the agreement would not involve equity arrangements, including cross-ownership stakes. The alliance is still at the nascent stage so, there is no word from either of them about their future products.