Volkswagen (VLKAY) and Ford (NYSE:F) confirm that they are exploring a strategic alliance designed to strengthen each company’s competitiveness and better serve customers globally.
The two automakers plans to work on joint development of a range of commercial vehicles.
VW and Ford don't plan to take equity stakes in each other.
F +0.25% after hours to $11.92.
Source: Press Release
Previously: Volkswagen and Ford in talks over commercial van partnership (June 19)
Now read: Ford: America's Dumbest Company? »
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