"While Ford and Volkswagen remain independent and fiercely competitive in the marketplace, teaming up and working with Argo AI on this important technology allows us to deliver unmatched capability, scale and geographic reach", Ford CEO and President Jim Hackett said.
Volkswagen will invest $2.6 billion in capital and assets in Ford's self-driving unit Argo AI to market new-technology vehicles in the United States and Europe. The pair are strengthening their alliance to work together on those hottest of emerging automotive technologies, electric vehicles and autonomous driving.
Volkswagen intends to launch a vehicle with Argo's platform in "the early 2020s", according to CEO Herbert Diess.
Hinrichs said it would take four years to design Ford's electric auto around VW's MEB architecture, and retool a Ford of Europe plant to build the vehicle.
VW will become an equal stakeholder in Ford's autonomous vehicles venture. The two companies say a second Ford-badged MEB-based BEV is also under discussion.
Argo AI's technology will be incorporated into both Ford and VW vehicles as part of each company's plans to offer geofenced driverless robotaxis or goods delivery services in the USA and Europe.
The cooperation with VW on electric vehicles in Europe is part of Ford's previously disclosed $11.5 billion EV investment worldwide.
"Unlocking the synergies across a range of areas allows us to showcase the power of our global alliance in this era of smart vehicles for a smart world".
"Ford will be a more targeted business in Europe, consistent with the company's global redesign", European president Stuart Rowley said in a June statement.
Ford created Ford Autonomous Vehicles LLC in 2018, pledging to invest $4 billion until 2023 and has sought outside investors to help share the spiraling cost of developing autonomous vehicles.
Volkswagen will put forward just under £2.1 billion - including £800 million in direct funding and the transferring of its own Autonomous Intelligent Driving (AID) company, valued at £1.28bn - as well as purchasing shares from Ford over a three-year period.
During the Mesozoic era, the valley was full of trees that produced resin, a gooey substance that oozes out of the tree bark. Moving forward, researchers hopes to extract proteins and pigments from exposed features peeking out from the amber.
The September WTI crude oil support is $59.12 and the September Brent crude oil's support is at $66.63. The latter , including Norway and Brazil, will increase production to 2.4 million barrels per day.
The former Blue Peter presenter John Leslie has been charged with sexually assaulting a woman in December 2008. The star later joined the This Morning team on ITV, presenting one show a week alongside Fern Britton, now 61.
It's essentially a slightly updated version of Pong, with cute 8-bit-style tennis players knocking a ball back and forth. The next step is to search for the tennis ball in the search box, click on the ball start playing your favorite game.
L'attaquant de 27 ans a participé à tous les matchs des Fennecs depuis le début de la compétition. En effet, sur sa fiche apparaît encore le drapeau français, lui le natif de Sète.
Becker auctions trophies, raises over £680,000
An auction of trophies and memorabilia from former Wimbledon champion Boris Becker's career has raised in excess of £680,000. Bidders included some from people attending Wimbledon, according to Terry Madden of the auctioneers Wyles Hardy.
Gronkowski's workout with Brady fuels speculation
Gronkowski hung up his cleats in March after a Hall of Fame career. "Tom needs someone to throw to so, you know, he calls Mr". Rob Gronkowski was spotted at UCLA with Tom Brady on Monday, and they probably weren't just saying hello.
Thursday's Tour stage favours Bernal, says Thomas
The stage ended up as a battle not only for the stage and the overall lead but for the psychological control of the race. He enters a storied history of the Planche des Belles Filles finish. "It was a good big breakaway group", said Teuns.