Ford Motor Co. and Volkswagen Group said Thursday they are expanding their global alliance announced in January with deals that are expected to involve collaboration on electric and autonomous vehicles.
The two companies are expected to announce further details on an agreement to share electric and autonomous car technologies at a press and investor conference at 8 a.m. Friday, which will be livestreamed. They said Volkswagen CEO Herbert Diess and Ford CEO Executive Jim Hackett would appear together, but provided no additional information in a news release.
The automakers could outline more than one agreement. One potential element could be an investment by Volkswagen in Argo AI, the self-driving vehicle systems company majority owned by Ford.
Ford created Ford Autonomous Vehicles LLC in 2018, pledging to invest $4 billion until 2023. It has sought outside investors to help share the spiraling cost of developing autonomous vehicle technology.
Argo AI, a Pittsburgh startup…