1. Big tabs and hard realities.
Going-it-alone is, like, so 2018.
Volkswagen and Ford, one-time rivals fast sobering to the costs and difficulty of engineering next-generation cars, said Friday they would pool resources in the development of autonomous vehicles. Under the long-rumored deal, VW will invest upwards of $2.6 billion into Ford’s self-driving unit, which was already valued at $7 billion before the tie-up.
The agreement is the latest in a string—so many, in fact, that we’ve lost count—of fiercely competitive carmakers cooperating to develop self-driving technology.
- Only days earlier German firms BMW and Daimler said they would pool some 1,2000 technicians together to work on a shared autonomous Level 4 stack.