Volkswagen AG and Ford Motor Company today announced they have signed a Memorandum of Understanding and are exploring a strategic alliance designed to strengthen each company’s competitiveness and better serve customers globally.
The companies are exploring potential projects across a number of areas – including developing a range of commercial vehicles together to better serve the evolving needs of customers. The potential alliance would not involve equity arrangements, including cross-ownership stakes.
According to Ford’s president of Global Markets, the alliance will help improve effectiveness and efficiency and help Ford become more fit as a business. He mentioned commercial vehicle customers in particular.
The companies will provide updates and additional details as talks progress.
