Volkswagen AG and Ford Motor announced the establishment of a strategic Alliance. The companies signed a Memorandum of understanding provides for joint development of several projects, including a range of commercial vehicles, as well as projects aimed at improving the competitiveness of each company.
As stated, we are not talking about merger or exchange of shares, but only on joint projects that will allow companies to reduce development costs. About potential joint projects and agreements on their implementation Alliance members will be informed additionally. Now it was announced that Volkswagen AG and Ford Motor will develop several commercial vehicles that will meet the needs of customers of both brands worldwide.
“Ford is committed to improve our physical fitness as a business and use the adaptive business model, which includes working with partners to improve the efficiency. A potential Alliance with Volkswagen Group is another example of how we can be transformed, creating a winning global product portfolio and expanding our capabilities,” said Ford marketing chief Jim Farley.
The Volkswagen Group potential cooperation with Ford Motor, is considered as a possibility to increase the competitiveness of both companies. According to the chief strategist of the concern of Thomas Sedran, participation in the Alliance allows you to adapt to a complex environment and position in the world market. “This is a key element of our strategy Volkswagen Group 2025,” he said.