(Volkswagen) Volkswagen has inked an e-mobility partnership with Ford that will see the latter use the German rival’s platform for its second electric vehicle for the European market.
Under the deal, Ford will double its planned output of vehicles to 1.2 million units over a six-year time frame that will be made based on Volkswagen’s modular electric-drive platform or MEB.
Volkswagen says the deal with Ford will further accelerate the e-mobility solutions of the two automakers. The company says that profitability and speed are now important in achieving breakthroughs in electrification in Europe.
The first of Ford’s models to use the MEB platform will be an all-electric crossover that will be produced at the US automaker’s Cologne plant from 2023.
Ford aims to boost its electrification investment to $50 billion through 2026.
F: NYSE is up +0.81% on premarket, VOW3: ETR is up +6.25%
