The two global car companies are joining forces to take the automotive industry towards the future.
A joint venture between Ford and Volkswagen (VW) was announced on Friday. The two well-known automotive companies will be collaborating on their autonomous and electric vehicles and technologies considered critical for the future of the industry.
Billions of dollars worth in investments will call for intellectual property and hardware, among the sections of the two auto companies, to be shared moving forward.
What technologies will the companies be exchanging?
The joint venture aims to cut down developing and manufacturing costs.
On the same forward-thinking note, VW is going to invest $2.6 billion into Argo AI, Ford’s self-driving car venture and Ford plans on building an electric car from VW’s MEB electric vehicle platform.