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Report: VW Balks at Investing in Ford’s Autonomy Unit
Volkswagen AG is resisting pressure to invest at least $500 million in Ford Motor Co.’s autonomous-car unit, sources tell Reuters.
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Volkswagen AG is resisting pressure to invest at least $500 million in Ford Motor Co.’s autonomous-car unit, sources tell Reuters.
The sources say VW, unconvinced of Ford’s technological prowess in self-driving-vehicle technology, prefers to collaborate under a non-equity partnership, at least for now. Both companies say their negotiations, which they characterize as productive and constructive, are continuing.
The two companies confirmed in January that they will collaborate on the development and production of pickup trucks and commercial vans. They also signed a memorandum of understanding to pool efforts on electric vehicles and autonomous-driving technology. But they stopped short of a widely rumored announcement heralding a deep and wider-ranging alliance.
Reuters’ sources say the partners are pursuing a plan that would allow Ford to use VW’s “MEB” electric-car platform sometime after 2024. Those talks reportedly are focused on production and licensing details. VW said last month it was in talks with multiple carmakers about sharing its MEB chassis.
Discussions about collaborating on EVs and self-driving vehicles are related but being conducted in parallel, according to Reuters. The news service said earlier that an expanded Ford-VW alliance would include a VW investment in Ford’s Argo artificial intelligence unit.
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