Jim Hackett (L), CEO of Ford, and Herbert Diess, CEO of VW. Photo: Boris Roessler/picture alliance via Getty Images
Volkswagen and Ford announced Tuesday at the Detroit auto show they will form an alliance on commercial vans and pickups and together will start exploring the development of electric and autonomous technology, Reuters reports.
Why it matters: The partnership is expected to save the automakers billions of dollars. The traditional automakers believe focusing on the autonomous and electric vehicle sector together will help them gain ground on Tesla.