Volkswagen and Ford plan to create a strategic alliance

The German autoconcern Volkswagen and American automaker Ford Motors are considering the possibility of creating a strategic alliance to enhance the competitiveness of both companies. To this end, the companies signed a joint memorandum. The press release of the companies notes that they can also be engaged into joint development of cars for cargo and passenger transportation. At the same time, we are not talking about a possible merger, as potential share swap is not discussed. The management of Volkswagen has previously approved a plan to prepare a division of Volkswagen Truck & Bus for possible separation into a separate company and listing. Ford, in order to improve profitability, is implementing a program to reduce costs amounting to $25.5 billion during 4 years.

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