Volkswagen stated on Thursday its supervisory board had accepted several projects in a multibillion-dollar alliance with Ford Motor that was first declared last July.
The German automaker said various contracts between the two automakers were nearing completion and would be signed soon.
Among the shared projects specified by Volkswagen include a midsize pickup to be developed by Ford; a city delivery van to be developed by VW; a larger commercial van to be made by Ford, and a new electric vehicle for Ford of Europe, to be constructed on VW’s electric vehicle architecture.
When it comes to the official approval of the agreements, a Ford spokesman on Thursday stated, “We look forward to jointly providing an update soon.”
VW said that “further projects are to follow, as is the investment in Argo AI,” the self-driving software company supported by Ford and which eventually will be jointly controlled with VW.
VW’s planned $3.1 billion investment in Argo is still on track and is expected to close soon, according to Argo.