VW Is Closing in on Ford Deal on Electric, Autonomous Cars
- CEO tells top managers talks are ‘progressing well’ with Ford
- Executive says company needs to become more nimble, valuable
This article is for subscribers only.
Volkswagen AG is nearing a deal to cooperate with Ford Motor Co. on electric-car technology and self-driving vehicles, according to Chief Executive Officer Herbert Diess, who also called for a faster transformation of the German manufacturer.
Talks with Ford are “progressing well” and are close to being finalized, Diess said in prepared remarks seen by Bloomberg and delivered at a gathering of the carmaker’s 500 most senior executives in Wolfsburg, Germany. The pact, which already includes co-producing vans and pickups trucks, is part of VW’s plan to add scale and save costs to counter slower sales and record spending requirements to develop new technologies.