Two automotive giants, Volkswagen AG and Ford Motor Company, have confirmed their plans to found a joint car design and manufacturing enterprise.
The Board of Directors will soon start reviewing several projects proposed in this regard, one of these envisaging the release of an entire family of commercial vehicles on multiple markets.
Despite the fact that Ford and Volkswagen unite efforts on this joint venture, neither of the two companies plans to acquire stock in or share assets with the other.
No further details are available right now.
Volkswagen and Ford have already joined efforts in releasing new cars before, examples being Galaxy and Sharan. Both have been produced since 1995, but neither has been truly worked upon by both companies since the first generation.
In an earlier news, Volkswagen has struck a deal with the Japanese vehicle manufacturer Hino Motors. The companies will work together on designing hybrid and diesel drivetrains for commercial vehicles. They will also develop self-driving car technologies and inter-vehicle data sharing systems.
Photo: autoexpress.co.uk