VW in talks to buy stake in Ford’s Argo unit, to develop pickup truck

March 28, 2019

HANNOVER (Reuters) – Volkswagen has signed a deal to develop a pick-up truck with U.S. rival Ford and may extend its alliance to include autonomous driving and mobility services, the German carmaker said on Thursday.

In January, VW and Ford agreed to develop a range of commercial vehicles and explored cooperating on electric and autonomous cars as part of a sweeping alliance designed to save each carmaker billions in costs.

“We are in constructive talks about taking a stake in Argo, the Ford division for autonomous driving. A joint company for offering mobility as a service is also a possibility,” Volkswagen’s commercial vehicles chief executive Thomas Sedran said on Thursday.

(Reporting by Jan Schwartz; Writing by Edward Taylor; Editing by Riham Alkousaa)

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