Volkswagen and Ford are working together on electric vehicle

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The companies will also cooperate in the field of Autonomous driving.

The German Volkswagen group and American Ford signed an agreement on joint production of electric vehicles and cooperation in the field of Autonomous driving, according to the Chronicle.info with reference to the Correspondent.

The merger of capital of both companies the agreement provides.

In particular, Volkswagen estimate the growth of the turnover in the range of 10 to 20 billion dollars from such cooperation.

According to the agreement, Volkswagen will invest $ 1 billion in a subsidiary of the Americans, Argo Al, developing the technology for unmanned vehicles, and will contribute to the joint project company private AID, the cost of which is estimated at 1.6 billion dollars.

2023 Ford will begin producing in Europe electric vehicles as a core technology will use electric modular platform MEB (Modulare E-Antriebs-Baukasten), developed by the German concern.