Ford-VW alliance expands to include autonomous and electric vehicles

www.theverge.com

It’s a speed race in the EV space, with partnerships being formed all across the industry in the hopes of lowering costs and accelerating innovation in the market. Frenemies Ford and Volkswagen are growing closer. In a widely anticipated move, Ford and Volkswagen announced Friday their plan to expand their seven-month-old alliance to include autonomous and electric vehicles. As part of the deal, VW will invest a whopping $2.6bn in Argo AI, the autonomous vehicle startup based in Pittsburgh that Ford invested $1bn into in 2017. Volkswagen is betting big on its MEB platform, which will serve as the basis for the 15 million electric cars it hopes to eventually sell. Ford has said it plans to spend $11.5 billion on electric car development and production over the next few years, including bringing an EV to Europe in the next few years.

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