Volkswagen and Ford will spend billions of dollars on the joint development of self-driving cars

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Under the partnership agreement, automakers - American Ford Motors and German Volkswagen - intend to invest billions of dollars in the joint development and production of electric and self-driving cars. The acquisition by the German company of the American company Argo, which develops technologies for unmanned driving, in the amount of $500 million and Volkswagen’s planned investment in this startup in the amount of $2.6 billion will allow the two automakers to have equal shares in it. Ford will acquire parts from Volkswagen and will produce more than 600 thousand electric vehicles in Europe in six years, starting in 2023. In addition, both companies will use Argo unmanned driving technology when developing their own cars. The implementation of these plans will contribute to a significant reduction in the cost of automakers.

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