American and German brands will announce on Friday the steps that will follow in the global agreement.
They will form a joint venture that will enable Forda access to the VW platform that serves as the basis for their electric cars.
On the other hand, VW will participate in the research firm Argo AI, part of which is partially owned by Ford, specializing in the development of autonomous vehicles.
Ford and Volkswagen will release details on new automotive and electric vehicle companies on Friday, which will jointly develop in these two technologies that change the global automotive industry.
Agreement, which will be "Billions of dollars in investment", as expected, will allow companies to share intellectual property, software and hardware, CNBC said.
The details will be listed in a a joint press conference Friday morning in New York (8 am). There they will "provide updated information about their global alliance" and "share details of new partnerships that also aim to better serve their clients and improve the competitiveness and capital of each company."
The key word will be "efficiency," they said.
Although no prior information is officially given, the US media say it Volkswagen will enable Forda access to the base platform on which VW will engage in electric vehicles plans to launch on the market in the middle of the next decade.
Volkswagen will in the meantime invest in Argo AI, a research company whose Ford is partially specialized in the development of autonomous vehicles.
Ford and the German brand are negotiating forms of mergers in a wide range of operations. In January, they announced their first agreement: a joint venture focused on commercial vehicles, such as the Ford Transit truck.
At that time, executives expected to continue looking for opportunities for joint arrangements, such as the one to be implemented on Friday.
You can watch the conference live here.
In 2018, Ford earned $ 160.3 billion in the world. In the meantime, VW reported earnings that reached $ 265,000 million in the same year.
The partnership, which began in January with the sale of vans and medium commercial vans, will now continue with autonomous and electric vehicles, and will be consolidated in 2022. this will not mean joining or participating in equity between the two companies.
The alliance is vital to Ford. Analysts in this sector realize that this is the last big bet of executive president Jim Hackett, who assumed office in 2017 and failed to awaken a giant from Detroit.
Ford has announced in the last few months a a plan to abolish jobs, abolishing vehicles and closing down plants in Europe, as part of the effort to make profitable business on the Old Continent.
The VW and Ford deal is not the last in the industry. Nissan and Renault continuing its efforts, the FCA wanted to join Renault – and failed – and PSA and Citroën are progressing together in Europe.