Skip to main content

Ford Wants to Expand Partnership with VW, See Where Things Go

Ford wants the V (W, that is) and it has admitted that it’s in talks to expand its alliance with the German automaker beyond commercial vehicles, reports Automotive News.

“We have a history with VW. We get along with them. And if you look at the strengths and weaknesses of each of us, we match up really, really well,” Bob Shanks, Ford’s CFO, told Automotive News.“In the world we’re in, where the future is so ill-defined because it’s yet to be created, companies are going to have to collaborate more together.”

Ford just wants somebody to lean on. But they recognize that relationships have to be a two-way street.

“We’re having a very broad set of discussions about how we can help each other around the world,” Shanks said. “Collaboration isn’t being limited in any way whatsoever, whether it’s different types of technology, product segments or geography.”

And the strategy may work because Ford knows North America, but has been struggling in Europe and South America—where it has reportedly lost more than $4 billion since 2012. Everybody has baggage, but Ford’s stock is on the rise.

The company revealed its stock rose almost 10% recently on the heels of stronger than expected earnings. And even though it’s backing away from margin targets it set for 2020, it’s still committed to lowering costs and improving itself.

“We look forward to sharing more about this global redesign of the company,” said Ford CEO, Jim Hackett, during Ford’s earnings call. “We are going to be coming to you more frequently, including we’re going to talk about these strategic partnerships in the near future.”

Just what the future will look like, though, is still a little fuzzy. But Ford doesn’t want to define things yet. Can’t the companies just get together and see where things go?

“We haven’t put boundary conditions in terms of where we could collaborate,” Shanks said. “We’re looking at the strengths and the gaps of each company on both sides of the table and trying to understand how we can help each other.”

That said, Ford is trying–working as hard as it can to figure something out and is promising to know what it wants in the near future.

“Starting next year, the picture will start to come more and more into focus,” Shanks said. “It’s something that won’t be a big bang. It will be done as fast as we possibly can, but it will be done in chunks and pieces.”

[source: Automotive News]

The post Ford Wants to Expand Partnership with VW, See Where Things Go appeared first on VWVortex.



from VWVortex https://ift.tt/2JiSRqL
via IFTTT
Labels:

Comments

Post a Comment

Popular posts from this blog

Review: Saying Goodbye to the CC V6

For all its size and its global reach, Volkswagen is still, in many ways, a deeply human company. There was, for instance, the Bugatti Veyron an ego project if ever there was one. Then the purchase of Ducati, a move most called folly. And then there was the Phaeton, the Volkswagen that most folks can’t afford. Not only were these moves all strange, I’m sure that they made VW’s accountants furious. None of them made good business sense, but they were all deeply interesting and they all are evidence of the heart that beats at the center of VW. Among these follies is the CC, a car that everyone agrees is rakishly handsome, but that no one really wanted to buy. The car couldn’t last, but the world is brighter for its having been in it. With the approach debut of the Arteon, it seems like a good time to look back on its sadly departing predecessor. The version I drove, because I live in Canada, is a V6 Wolfsburg Edition, which apparently isn’t available in the States. Nor is the V6, not as...
Post a Comment
Read more

Mitsubishi admits it lied about MPG ratings for all vehicles in Japan

Filed under: Government/Legal , Green , Mitsubishi , Fuel Efficiency , Japan Mitsubishi says its shady fuel-economy test practices may have been used on all vehicles it sells and has sold in Japan. Continue reading Mitsubishi admits it lied about MPG ratings for all vehicles in Japan Mitsubishi admits it lied about MPG ratings for all vehicles in Japan originally appeared on Autoblog on Wed, 11 May 2016 12:36:00 EDT. Please see our terms for use of feeds . Permalink  |  Email this  |  Comments from Autoblog Volkswagen http://ift.tt/21X3bHv
Post a Comment
Read more

More 3.0-Liter TDI Settlement Details Expected by January 31

Volkswagen and the TDI Plaintiff’s Steering Committee were in court today for another status conference following the agreement in principal reached earlier this week. Little new information was given at the conference held before Judge Charles Breyer today, but the court ordered the parties to develop a formal settlement agreement, class action notices, and a class notice plan by January 31, 2017. For now, though, owners still don’t know how much to expect in compensation. Elizabeth Cabraser, lead Counsel for the Plaintiff’s Steering Committee reaffirmed in a statement today that the compensation would be “substantial.” The potential cost to Volkswagen is widely reported to exceed $1 billion, though, with an additional $225 million going into an environmental trust to help offset excess emissions. Buy back offers are still only expected for the oldest 20,000 of the roughly 80,000 VW Group vehicles sold in America with the 3.0-liter TDI engine. Those vehicles are mostly SUVs, like ...
Post a Comment
Read more