Vehicle Company "VW and Ford" to Announce their Partnership Alliance to save Billions of Dollars

Volkswagen (VW) and Ford are expected to unveil an alliance on Tuesday that combines forces on commercial vehicles and is likely to expand into joint development of electric and self-driving technology, moves meant to save the car makers billions of dollars.

Volkswagen CEO Herbert Diess announced a partnership with Ford on Monday. Picture: VOLKSWAGEN GROUP

Ford and Volkswagen will announce their partnership against the backdrop of the North American International Auto Show (Detroit Auto Show), Volkswagen CEO Herbert Diess told reporters on Monday.

Ford to cut jobs to save $200m in Europe

The carmaker said it was launching a voluntary redundancy programme and improving manufacturing efficiencies.

It also said it would focus on its most profitable models, such as sports utility vehicles (SUVs).

 

Ford Europe returned to profit for the first time in four years in 2015, as the parent group recorded record profits of $10.8bn.