Automobile Industry

Volkswagen & Ford To Partner For Developing Electric Vehicles

Ford Volkswagen Merger

The information has been confirmed by VW Group CEO Herbert Diess at the company’s annual board meeting press conference.

Volkswagen AG and Ford Motor Company will enter into strategic partnership for developing electric and autonomous vehicles for global markets. The information has been confirmed by VW Group CEO Herbert Diess at the company’s annual board meeting press conference. He also revealed that both companies will also develop commercial vehicles and explore “potential collaboration” for electric and self-driving mobility. Read – Ford Cars To Be Powered By Mahindra Engines

Earlier, there were rumors that VW and Ford are pondering a full-merger or an equity swap. However, Diess refused them and said “that was never the objective of our talks”. He also revealed VW Group’s five-year investment plan for electric mobility and autonomous technology. Diess said that the company is planning increase its investment into electric vehicle, connected and autonomous technology from €34 billion (around Rs 2,77, 032 crore) to €44 billion (Rs 358,512 crore). Read – China’s Auto Giant ‘Great Wall Motors’ To Enter India 

While €30 billion (around Rs 244,440 crore) will be invested into electric mobility, the rest will be used for platform and engine development and setting infrastructure. At the annual press conference, the company also discussed plans to improve production efficiency, which is important in the cost-cutting aftermath of Dieselgate by 30% by 2025. Read – Uniform Smart Driving Licenses & RCs Across India In 2019

Bernd Osterloh, VW Works Council Head, revealed the company wants to be “part of battery manufacturing close to where the cars are produced”. The internal combustion engines “will remain important” to brand along with the focus on the electrification and future mobility services. “We will offer diesel engines with reduced NOx and carbon levels”, he further added.

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