Ford, Volkswagen to reveal details on global alliance
NEW YORK (AP) -- Ford and Volkswagen are planning to unveil details about their budding alliance to build mobility services and autonomous and electric vehicles.
Executives from both companies are planning to reveal details Friday morning.
The two companies announced plans in January to collaborate on developing commercial vans and medium-sized pickup trucks while exploring electric and autonomous vehicles together. They said Ford would develop larger vans and pickups while Volkswagen would develop a smaller van for crowded cities.
Many automobile companies are joining forces as they face pressure to develop autonomous vehicles and smartphone-enabled transportation services. They're competing with companies such as Waymo and Uber to launch the technology. They're also under pressure to release electric vehicles in markets such as China and Europe to meet tougher pollution limits.