• Home
  • About Team
  • Privacy Policy
  • Contact Us

GoSportTimes

  • Money
  • Entertaiment
  • Industry
  • Science
  • Sports
  • World Media

Volkswagen and Ford team up on self-driving and electric cars

  • by Emilio Sims
  • in Money
  • — Jul 13, 2019
Share:

- In April, Ford said it would invest $500 million in electric vehicle startup Rivian to build a Ford vehicle on Rivian's underpinnings.

The automakers will work together to develop a self-driving system and integrate it into their own vehicles, with Ford already planning to debut a hybrid utility vehicle aimed at providing commercial ride-hailing and package delivery services by 2021. Ford CEO Jim Hackett said the production location for the vehicle would be announced at a later date, but that the company is expecting to sell 600,000 over six years and is planning to add a second model on the platform.

"Our global alliance is beginning to demonstrate even greater promise, and we are continuing to look at other areas on which we might collaborate", Diess said. "We will share updates as details become more firm", a Ford spokeswoman said in a statement. $1 billion will come from funding, while the remaining $1.6 billion will come in the form of VW's Autonomous Intelligent Driving (AID) company, which has more than 200 employees and has been responsible for self-driving-car development for the VW Group. Now, as suspected, Ford will also use VW's modular electric vehicle architecture (called MEB) to offer a new battery EV in Europe. (Ford will still complete its billion-dollar investment in Argo AI).

With electric and autonomous vehicles driving the biggest shake-up in the automotive sector in a century, the huge costs of developing these ground-breaking technologies is forcing even the biggest players to form alliances to share the financial strain.

The decision to team up helps the Ford and Volkswagen share the steep costs - and risks - of developing technology for driverless vehicles, and gives Argo AI more cash to attract talented engineers, crucial to success.

ArgoAI CEO Brian Salesky commented on the company's investments stating: "Thanks to Ford and VW, our technology could reach almost every global market, could applied to multiple vehicle brands a variety of vehicle platforms". It could also be years, if not decades before carmakers can profit off of autonomous vehicles.

According to Citi analysts, the collaboration is "transformational" for both companies. Edmunds provides content for The Associated Press.

With electric vehicles, manufacturers are under pressure to release zero-emission cars in markets such as China and Europe to meet tougher pollution limits. Ford shares were up 0.4% to $10.15 as of 1:25 p.m. Thursday in NY. They said Ford would develop larger vans and pickups while Volkswagen would develop a smaller van for crowded cities.

Share:

IN CASE YOU MISSED IT

  • Shoppers set to spend more than ever on Prime Day
  • Tucker Carlson: 'Immigrants have got to like us back'
  • Black Caps to play England in final
  • YOU MAY ALSO LIKE...

    • UK, EU at odds over bloc's post-Brexit diplomatic status 1/23/2021
    • Canadian PM Trudeau ‘disappointed’ with Biden’s decision on first day 1/23/2021
    • Unemployment Claims Fall, But Pandemic Continues To Bite 1/22/2021
    • Stellantis CEO: New car company will protect jobs and brands 1/21/2021
    • Free Trials Extended a Second Time 1/20/2021
    • Paramount+ sets debut dates 1/20/2021
    • Court sends de facto head of International Olympic Committee sponsor Samsung to prison 1/20/2021
    • Oil mixed as Chinese data offsets coronavirus fears 1/20/2021
    • GitHub's HR Head Resigns After Worker Fired Over Nazi Line 1/20/2021
    • HDFC Bank Q3 net rises 14.36% to ₹8,760 crore 1/19/2021

RELATED NEWS

The Duffer Brothers Tease 'Stranger Things' Season 4 Details
Now the Duffer Brothers are finally teasing fans by suggesting what the next chapter will be like. It's hard to parse what Ross may mean from this, but it's certainly interesting to try and guess.
7/13/2019

Steam Labs launches as a testbed for new Steam features
Valve Software, the company behind the Steam gaming platform, launched Steam Labs yesterday on the official Steam website . And they were actually things that looked interesting to me - unlike most of the games in my normal Steam discovery queue.
7/13/2019

Android Q Beta 5 brings new pull-down gesture & Google Assistant animation
This useful function has always been endorsed by third-party launchers like Nova Launcher , Lawnchair, and many others. As Google announced at I/O this year, it will do away with the awkward two-button gesture nav that debuted in Pie.
7/12/2019

Stranger Things 4 would 'feel very different,' according to The Duffer Brothers
It'll be serving themed ice cream flavours including gloriously retro Coke Float, Cherries Jubilee, Banana Boat and July 4th. Fans will be able to visit the ice cream van when it makes an appearance in Dundrum Shopping Centre on Wednesday, July 17.
7/12/2019

Flight Turbulence Injures 35 Passengers
Luke Wheeldon told the Honolulu news station KTIV about half the passengers had not been wearing seatbelts. Turbulence: The flight from Vancouver to Sydney diverted to Honolulu at around 6:45 am.
7/12/2019

BOC Report: Kabir Singh Today Box Office Collection Day 21 Total Income
Now Shahid Kapoor has entered the big league of Bollywood actors with Kabir Singh , the biggest hit of his career. Kabir Singh narrates the story of a man who goes into a self-destructive path after his ex marries someone else.
7/12/2019

Iran tries to 'impede' passage of British tanker through Strait of Hormuz
This is enough to provide reassurance, but probably not to deal with a crisis, BBC defence correspondent Jonathan Beale said. British "claims that have been made are for creating tension and these claims have no value", Zarif said.
7/12/2019

Justice Department, 2 views on sex charges against Epstein
President Donald Trump told reporters Tuesday he had a falling out with admitted sex offender Jeffrey Epstein "a long time ago". They also say the Florida case must continue to achieve justice there despite the filing of charges against Epstein in NY .
7/12/2019

Federer, Nadal braced for Wimbledon epic
Roger Federer sealed his place in the last four for a 13th time with yet another milestone moment at the All England Club. Djokovic used a 10-game run to transform what was shaping up as an even, entertaining quarterfinal into a lopsided romp.
7/12/2019

Starc sets new record at Cricket World Cup
Vaughan also took a sly dig at Australia's preparations for the match in which they walked around the field with no shoes on. Since then they have beaten India, New Zealand and turned in this, their best performance of the tournament to date.
7/12/2019

    • Top picks

      • Victoria relaxes Queensland border rules1/17/2021
      • Norwegian Air ends long-haul flights, talks of state involvement1/17/2021
      • Work from home is Twitter’s new normal forever1/17/2021
      • Information Regulator to check compliance of WhatsApp Ts&Cs with SA's privacy laws1/15/2021
    • Weekly News

      • China's export growth beats expectations on resilient global demand1/15/2021
      • Visa pulls the plug on its $5.3bn acquisition of Plaid1/15/2021
      • Parler Social Network Sues Amazon After Ban1/14/2021
      • NIO announces 150 kWh solid-state batteries for 20221/14/2021
    • Latest News

      • Hiscox Shares Edge 3.55% Higher Despite Supreme Court Ruling Against1/18/2021
      • Powerball jackpot grows to $730M; Mega Millions climbs to $850M1/18/2021
      • Trump's Facebook and Instagram accounts unblocked - Facebook, Instagram unblock Trump's accounts1/18/2021
      • Facebook’s WhatsApp Suffers Dip in Downloads Over Privacy Concerns1/18/2021
    • Home
    • About Team
    • Privacy Policy
    • Contact Us

    Saturday 23 January 2021

    © 2021 GoSportTimes. ALL RIGHTS RESERVED.