Volkswagen and Ford announced a new alliance on Tuesday to jointly develop commercial vans and pickups starting in 2022, in a bid to reduce costs in the increasingly competitive auto market.
The announcement came after more than six months of talks between the automakers which also included discussions about cooperation on autonomous and electrification technologies for cars of the future.
The American and German giants will join forces to develop commercial vans and medium-sized pickups as early as 2022. But the deal does not involve cross-ownership, according to a joint statement.
The companies also will "investigate collaboration on autonomous vehicles, mobility services and electric vehicles and have started to explore those opportunities."
"A single automaker can't be all things to all customers around the globe as vehicle and technology development become increasingly more expensive."
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