Automotive giants Ford and Volkswagen have signed an MOU (Memorandum Of Understanding) to research a self-driving vehicle partnership.
While he’s been moving through a somewhat tumultuous interval, Elon Musk and his Tesla team reluctantly awakened the automotive sector. Various features were introduced by the company using their appealing , vehicles.
Carmakers have struggled to match the pace of innovation from newer players. So as to avoid becoming another example of a new like Pontiac, it may take a glimpse of funds between competitors.
Bringing vehicles is an expensive endeavour. Launching an automobile needs new components and designs and is very different.
For a company like Ford or Volkswagen, a launching or two later this kind of investment may send the whole company.
Both firms are holding & ldquo; rdquo s discussions &; that could lead to creating self-driving and electric vehicles. Collaboration could save billions of dollars development expenses.
A formal announcement is expected before the close of the year about where this type of partnership could proceed. Right now, the companies remain tight-lipped beyond recognizing the MOU.
Ford Spokesman Alan Hall said.
“Our MOU using VW covers discussions about collaborations. It’s early to share additional details. ”
Earlier this week, Volkswagen Chief Financial Officer Frank Witter said his organization is receptive to working alongside outside companies. He specifically noted autonomous driving because a single area the company is keen to set alliances in.
Witter highlighted that VW could share its brand new MEB electric vehicle platform together with Ford to help spread the cost of development over more vehicles.
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