The German Volkswagen group and American Ford signed an agreement on joint production of cars, light commercial vehicles and cooperation in the field of Autonomous driving.
German and American automakers will jointly produce commercial and electric vehicles, as well as to cooperate in the field of Autonomous driving. The merger of capital of both companies the agreement provides, the newspaper writes.
In particular, Volkswagen estimate the growth of the turnover in the range of 10 to 20 billion dollars from such cooperation.
According to the agreement, Volkswagen will invest $ 1 billion in a subsidiary of the Americans, Argo Al, developing the technology for unmanned vehicles, and will contribute to the joint project company private AID, the cost of which is estimated at 1.6 billion dollars.
The relevant cooperation agreement the heads of both companies signed on June 10.
According to the agreement, which the Supervisory Board of VW approved may 28, 2023 Ford will begin producing in Europe electric vehicles as a core technology will use electric modular platform MEB (Modulare E-Antriebs-Baukasten), developed by the German concern.