Ford and VW have stepped up their alliance — Ford will develop an electric vehicle using VW tech by 2023 (F)


2018 CES Ford Hackett

On Friday, Ford and the Volkswagen Group announced that they would step up their global alliance.

“Ford will become the first additional automaker to use Volkswagen’s dedicated electric vehicle architecture and Modular Electric Toolkit – or MEB – to deliver a high-volume zero-emission vehicle in Europe starting in 2023,” the companies said in a statement.

The VW Group also announced on Friday that it would invest $2.6 in the self-driving-car startup ArgoAI, after Ford invested $1 billion in 2017.
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NEW YORK — Ford and the Volkswagen Group on Friday announced that they would step up their global alliance, first announced in January.

VW CEO Herbert Diess and Ford CEO Jim Hackett were on hand to update the media at an event held on Wall Street in lower Manhattan.

“Ford will become the first additional automaker to use Volkswagen’s dedicated electric vehicle architecture and Modular Electric Toolkit – or MEB – to deliver a high-volume zero-emission vehicle in Europe starting in 2023,”the companies said in a joint statement. “Volkswagen will supply MEB parts and components as part of the collaboration.”

Volkswagen is the world’s largest automaker, while Ford is No. 2 in the US. VW has been moving aggressively since its Dieselgate scandal to embrace electrification, as electric vehicles are expected to be critically important to its business in Europe and China.

Both companies also will continue to target additional areas where they can work together on electric vehicles – a key strategic priority for both companies as they drive to accelerate the transition to sustainable and affordable mobility.

Ford has been engaged in an $11-billion restructuring since Hackett took over in 2017, maintaining its historically profitable pickup truck leadership while pressing forward on autonomous vehicles and its own electrification strategies.

“While Ford and Volkswagen remain independent …read more

Source:: Business Insider

      

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