Energy

Ford, VW to announce deal to invest billions in autonomous and electric vehicles

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Ford and Volkswagen plan to announce Friday new joint ventures on autonomous and electric vehicles, two technologies considered critical to the future of the auto industry.

The deal calls for “billions of dollars” in investments and will allow the companies to share both intellectual property and hardware, according to company executives with first-hand knowledge of the negotiations.

The companies have scheduled a joint press conference at 8 a.m. ET in New York Friday, saying they will “provide an update on their global alliance” and “share details of new collaborations also aimed at better serving their customers while improving each company’s competitiveness and capital…



Source cnbc.com

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