FRANKFURT — Volkswagen explained Thursday its supervisory board had permitted quite a few initiatives in a multibillion-dollar alliance with Ford Motor that was first introduced in July.
The German automaker said different contracts amongst the two companies were nearing completion and would be signed quickly.
Amongst the shared initiatives specified by VW are a midsize pickup to be designed by Ford a metropolis shipping van to be designed by VW a much larger commercial van to be designed by Ford, and a new electrical auto for Ford of Europe, to be designed on VW’s electrical auto architecture.
Pertaining to formal approval of the agreements, a Ford spokesman explained Thursday, “We look forward to jointly giving an update quickly.”
VW’s statement explained “additional initiatives are to adhere to, as is the investment in Argo AI,” the self-driving software firm backed by Ford and which at some point will be jointly controlled with VW.
VW’s planned $three.1 billion investment in Argo “continues to be on keep track of and is predicted to close quickly,” Argo explained in a statement on Thursday.