Motor vehicle giants Ford and Volkswagen are to join forces in making electric and autonomous vehicles which will mark the next step in the evolution of the automotive industry.
Sales of electric vehicles are climbing and sales of 3 million are expected in the US alone by 2028.
The technology employed to manufacture electric and autonomous vehicles is very costly and headway made on self-driving cars has not been as forthcoming as earlier anticipated. This may well be the thinking behind the decision to partner up.
An investment of around US$300 billion is expected to be made by the world’s leading car makers on battery-electric vehicles over the next 4 years.
“Ford and VW will remain independent and fiercely competitive in the marketplace. Unlocking the synergies across a range of areas allows us to showcase the power of our global alliance in the era of smart vehicles for a smart world,” said Ford’s CEO Jim Hackett.
Volkswagen is looking to sell some 23 million battery-electric vehicles over the next 10 years.