Ford and Volkswagen have announced an alliance to develop and build commercial vehicles.
The two companies plan to develop vans and pickups for global markets, beginning in 2022.
In addition, Volkswagen and Ford have signed a memorandum of understanding to investigate collaboration on autonomous vehicles, mobility services and electric vehicles. Both companies also said they were open to considering additional vehicle programs in the future.
“Over time, this alliance will help both companies create value and meet the needs of our customers and society,” said Jim Hackett, Ford’s CEO. “It will not only drive significant efficiencies and help both companies improve their fitness, but also gives us the opportunity to collaborate on shaping the next era of mobility.”
Volkswagen CEO Dr. Herbert Diess said: “Volkswagen and Ford will harness our collective resources, innovation capabilities and complementary market positions to even better serve millions of customers around the world. At the same time, the alliance will be a cornerstone for our drive to improve competitiveness.”
Ford will engineer and build medium-sized pickups for both companies. For both parties, Ford intends to engineer and build larger commercial vans for European customers, and Volkswagen intends to develop and build a city van.
The alliance, which does not entail cross-ownership between the two companies, will be governed by a joint committee. This committee will be led by Hackett and Diess and will include senior executives from both companies.