VW & Ford TeamUp on E & Self-Driving Cars
|Source: VW Electric Concept Cars|
New Technologies Driving Big Automotive Changes
VW and Ford just announced they're teaming up and sharing costs to develop self-driving and electric cars. VW will invest $2.6 billion in Ford's self-driving vehicle business unit. The two global automakers will also share electric car components.
New Tech Alliances
This alliance is part of a seismic change in the automotive industry. Expensive, new self-driving and electric vehicle technologies are driving it. Ford and VW are working together to share costs on the new technologies. And, they say while they remain fierce competitors, teaming up gives them significant global scale.
Changing Automotive Landscape
The Ford-VW tie-up is the latest in a series of big automotive alliances. About a week ago, BMW and Daimler announced they're teaming up to develop autonomous vehicles. Honda has invested nearly $3 billion in GM's driverless vehicle unit. It's a sign of the driverless and electric driving times that are growing in competitive importance and triggering new alliances to beat competitors.