Volkswagen’s supervisory board has approved several projects in a multibillion-dollar alliance with Ford, first announced last July.
(VW Newsroom)
Vinay's key takeaways:
- Among the shared projects specified by VW are a midsize pickup to be developed by Ford; a city delivery van to be developed by VW; a larger commercial van to be developed by Ford, and a new electric vehicle for Ford of Europe, to be built on VW's electric vehicle architecture.
- VW's planned $3.1 billion investment in Argo is also said to be on track.
- It helps that Ford and Volkswagen had agreed to pool in their respective expertise and leverage each other’s strengths in a strategic alliance last year. With global car sales and production having slowed even further with the COVID-19 pandemic impact, hard-pressed carmakers have little choice but to join forces now to recover.
- We should expect more such collaborative alliances, on similar lines, among other automakers, in the months ahead.
We also covered this in our earlier article: VW and Ford: The New Wave of Transformations has Begun