Volkswagen and Ford have announced plans to work closely to develop electric- and self-driving vehicles, the latest automakers to partner in the face of massive changes rocking the auto industry.
Ford CEO Jim Hackett and Volkswagen CEO Herbert Diess appeared together on Wall Street Friday, building on a growing alliance between the two automakers first announced a year ago.With this latest investment, Volkswagen has agreed to join Ford in investing in Argo AI, the autonomous vehicle platform company now valued at $7 billion. The two automakers said they will own a majority of Argo AI.
But he said despite that uncertainty and massive costs, automakers"can't sit on the sidelines and wait for it to happen."That's why cost-sharing arrangements such as this one are necessary."These [joint efforts] are really smart ways ... to make sure the companies are evolving and not taking too much risk," Hackett told investors at the public session.The alliance between the automakers had produced only modest agreements until now.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Ford, Volkswagen join forces on electric, autonomous carsFord Motor Co and Volkswagen AG joined forces to develop autonomous and electric...
Consulte Mais informação »
Driverless Argonauts are all on valuation questsFord and VW value their new autonomous-car joint venture at more than $7 bln. SoftBank and others peg GM’s similar division at $19 bln. Yet estimates on revenue and timing are all over the map. And Google’s Waymo is leading on several metrics. Their real worth could be anywhere.
Consulte Mais informação »
Ford, Volkswagen join forces on electric, autonomous carsFord Motor Co and Volkswagen AG joined forces to develop autonomous and electric...
Consulte Mais informação »
European startups navigate long, winding road to self-driving futureA handful of European startups are developing driverless cars to navigate the clogged, chaotic, rain-swept roads of European cities. Read more:
Consulte Mais informação »