Hyperdrive
Harsh Reality Forces Automaker Rivals Like VW, Ford to Make Nice
- Shift to driverless and electric vehicles to cost $310 billion
- Companies face challenge from tech giants, consumer trends
An Argo AI modified Ford Motor Co. Fusion autonomous vehicle
Photographer: Mark Kauzlarich/BloombergThis article is for subscribers only.
To understand how much strain the world’s leading auto manufacturers face as they make the daunting leap to the electric and autonomous vehicle age, just listen to their leaders.
“The business part of you wouldn’t do these things,” Ford Motor Co. Chief Executive Officer Jim Hackett said in a Bloomberg Television interview on Friday. That startling admission came after he had just inked a massive deal with German arch-rival Volkswagen AG to join forces to develop electric and self-driving cars.