There are many business industries which have got tough competition in it, but the automobile sector is one of the most robust businesses to find success. There are already well established giant companies in this sector which are dominating the industry, however, now Ford and Volkswagen have decided to come together, and soon these companies are going to announce their alliance. Ford and Volkswagen which are famous for creating extraordinary vehicles have agreed to partner up to produce electric cars and excel at this new industry. From last few years, the automobile industry is not growing due to which many big companies have lost billions of dollars of revenues due to which Ford and Volkswagen have decided to enter into joint venture.
Currently, both the company’s top executive officers are in the Detroit city’s auto show, and there’s a prediction going on that both these companies will make the official announced of their partnership on Tuesday. Thee two companies have been in this discussion from very long time because of the stagnant growth they’re facing in the automobile industry. This alliance of two major companies states the lousy situation of car industry in the USA and to survive one will have to come together with their competition also. Problems like government shutdown plus trade war are causing companies lots of money. However, this alliance of has much More brighter scope than any other automobile company because both companies now will be able to use their technology and other resources to build new innovative electric cars.
In the Detroit’s auto show Volkswagen CEO Herbert Diess has confirmed that Ford has agreed to give the access of its midsize ranger pickup truck platform and in future, both the companies are going to share their technology and resources.