Last year Ford unveiled their first all-electric car, the Mustang Mach-E to much fanfare. Unfortunately Ford has delayed the release due to the coronavirus pandemic.
Now a partnership between Ford and Volkswagen could see the US automaker’s next electric vehicle be built on VW’s MEB (Modular electric drive matrix) platform.
According to reports, Ford and VW have been working on a multi-billion dollar partnership that would see the two automakers share resources to develop, amongst other things, EVs.
That deal is apparently now in place, with VW announcing its board has approved several large projects, including a new Ford EV built on VW’s electric platform.
The new EV would be exclusively available in the European market, and would likely be a smaller hatchback-sized vehicle. VW currently produces the ID.3 EV on the same platform, which is set to release this month.
Not only will Ford and VW partner to develop EVs, VW will also reportedly set aside $3.1 billion to invest in a self-driving software company, Argo AI. Ford has already announced they will invest $1 billion over 5 years into the company. The terms of the deal have yet to be finalized, but an announcement is expected soon.
h/t [Ford Authority]
