Ford, VW explore joint development projects

The companies expect to collaborate on a range of commercial vehicles.

Volkswagen and Ford have announced plans to explore joint development projects.

The companies are said to be considering a wide spectrum of potential areas, including developing a range of commercial vehicles together.

"Both companies have strong and complementary positions in different commercial vehicle segments already," said VW Group strategy head Thomas Sedran. "To adapt to the challenging environment, it is of utmost importance to gain flexibility through alliances."

The collaboration will not involve any equity transfer or cross-ownership stakes.