Daily Sabah logo

Politics
Diplomacy Legislation War On Terror EU Affairs Elections News Analysis
TÜRKİYE
Istanbul Education Investigations Minorities Expat Corner Diaspora
World
Mid-East Europe Americas Asia Pacific Africa Syrian Crisis Islamophobia
Business
Automotive Economy Energy Finance Tourism Tech Defense Transportation News Analysis
Lifestyle
Health Environment Travel Food Fashion Science Religion History Feature Expat Corner
Arts
Cinema Music Events Portrait Reviews Performing Arts
Sports
Football Basketball Motorsports Tennis
Opinion
Columns Op-Ed Reader's Corner Editorial
PHOTO GALLERY
JOBS ABOUT US RSS PRIVACY CONTACT US
© Turkuvaz Haberleşme ve Yayıncılık 2025

Daily Sabah - Latest & Breaking News from Turkey | Istanbul

  • Politics
    • Diplomacy
    • Legislation
    • War On Terror
    • EU Affairs
    • Elections
    • News Analysis
  • TÜRKİYE
    • Istanbul
    • Education
    • Investigations
    • Minorities
    • Expat Corner
    • Diaspora
  • World
    • Mid-East
    • Europe
    • Americas
    • Asia Pacific
    • Africa
    • Syrian Crisis
    • Islamophobia
  • Business
    • Automotive
    • Economy
    • Energy
    • Finance
    • Tourism
    • Tech
    • Defense
    • Transportation
    • News Analysis
  • Lifestyle
    • Health
    • Environment
    • Travel
    • Food
    • Fashion
    • Science
    • Religion
    • History
    • Feature
    • Expat Corner
  • Arts
    • Cinema
    • Music
    • Events
    • Portrait
    • Reviews
    • Performing Arts
  • Sports
    • Football
    • Basketball
    • Motorsports
    • Tennis
  • Gallery
  • Opinion
    • Columns
    • Op-Ed
    • Reader's Corner
    • Editorial
  • TV

Ford, Volkswagen explore strategic alliance

by Compiled from Wire Services

ISTANBUL Jun 21, 2018 - 12:00 am GMT+3
(L-R) Jim Hackett, Ford President and CEO, Bill Ford, Ford Motor Company Executive Chairman, rapper Big Sean, Detroit Mayor Mike Duggan, and Michigan Governor Rick Snyder
(L-R) Jim Hackett, Ford President and CEO, Bill Ford, Ford Motor Company Executive Chairman, rapper Big Sean, Detroit Mayor Mike Duggan, and Michigan Governor Rick Snyder
by Compiled from Wire Services Jun 21, 2018 12:00 am

With car companies increasingly collaborating to cut the costs of developing new technology, Ford and VW are in early talks about jointly developing a range of commercial vehicles

Ford and Volkswagen are exploring joint development of future commercial vehicles in a possible alliance that could lead to cooperation in other areas. The companies announced the collaboration in a statement on Tuesday. They said that any alliance would not involve cross ownership stakes or including stock, according to Associated Press (AP). VW and Ford say an alliance would strengthen each company's competitiveness and better serve global customers. Ford would not give specifics about other areas for collaboration. But Ford President of Global Markets Jim Farley says in the statement that Ford is trying to become more fit as a business while creating a winning global product portfolio. Automakers often collaborate on big-ticket projects. For example, Ford has joined with General Motors to develop automatic transmissions. The companies say they'll provide updates as talks progress.

Meanwhile, Ford - one of America's "Big Three" automakers - bought the Michigan Central Station building, a Beaux Arts gem opened in 1913 that has stood abandoned and decaying for three decades, to make it the centerpiece of a new urban high-tech campus, according to AFP. Bill Ford Jr., the great-grandson of the American carmaker's founder, stood in front of thousands on Tuesday in Detroit, with an abandoned train station in the background, and entwined the company's future with that of the dilapidated building behind him.

"This station is a symbol," Ford declared. "We're making a big bet on our future."

The once proud building has faded, but is poised for much the same renewal that Detroit residents and businesses hope will mark the Motor City's post-recession, post-bankruptcy renaissance. At an event, the Ford Motor Company unveiled its lofty plans: a space of 1.2 million square feet (111,500 square meters) spanning several city blocks, where the company's employees, and those of partner firms and startups, will work on innovations such as autonomous driving and electrification.

"Just as Detroit has had to reimagine what it's going to be, we have to do the same, because everything is changing," Ford said.

Ford hopes to open the redeveloped train station in three to four years and make it a "magnet for high-tech talent," according to a company statement. Part of the company's gamble is that, by moving its innovations divisions into Detroit's urban core, Ford can attract the technology-savvy millennials it needs. The company's main headquarters will remain in nearby suburban Dearborn.

The train station project is a matter of survival for Ford, which has fallen behind its Detroit rivals GM and Fiat Chrysler (FCA) in developing self-driving cars. GM plans to mass-produce autonomous cars by 2019, and FCA has an expanding partnership with Google parent Alphabet's Waymo autonomous car division. But Ford won't have an autonomous car for consumers until 2021 - a full two years after GM.

  • shortlink copied
  • KEYWORDS
    business
    The Daily Sabah Newsletter
    Keep up to date with what’s happening in Turkey, it’s region and the world.
    You can unsubscribe at any time. By signing up you are agreeing to our Terms of Use and Privacy Policy. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
    No Image
    Israel strikes Gaza as tensions rise again
    PHOTOGALLERY
    • POLITICS
    • Diplomacy
    • Legislation
    • War On Terror
    • EU Affairs
    • News Analysis
    • TÜRKİYE
    • Istanbul
    • Education
    • Investigations
    • Minorities
    • Diaspora
    • World
    • Mid-East
    • Europe
    • Americas
    • Asia Pacific
    • Africa
    • Syrian Crisis
    • İslamophobia
    • Business
    • Automotive
    • Economy
    • Energy
    • Finance
    • Tourism
    • Tech
    • Defense
    • Transportation
    • News Analysis
    • Lifestyle
    • Health
    • Environment
    • Travel
    • Food
    • Fashion
    • Science
    • Religion
    • History
    • Feature
    • Expat Corner
    • Arts
    • Cinema
    • Music
    • Events
    • Portrait
    • Performing Arts
    • Reviews
    • Sports
    • Football
    • Basketball
    • Motorsports
    • Tennis
    • Opinion
    • Columns
    • Op-Ed
    • Reader's Corner
    • Editorial
    • Photo gallery
    • DS TV
    • Jobs
    • privacy
    • about us
    • contact us
    • RSS
    © Turkuvaz Haberleşme ve Yayıncılık 2021