June 19, 2018 / 5:53 PM / 3 months ago

VW, Ford confirm talks on possible commercial vehicle tie-up

FRANKFURT (Reuters) - Volkswagen AG (VOWG_p.DE) and Ford Motor Co (F.N) are talking about jointly developing and building a range of commercial vehicles including vans, the companies confirmed on Tuesday.

A Volkswagen logo is pictured during the Volkswagen Group's annual general meeting in Berlin, Germany, May 3, 2018. REUTERS/Axel Schmidt/File Photo

A Reuters story earlier on Tuesday said VW and Ford were discussing joint production of vans.

In a joint statement late Tuesday, VW and Ford said they were considering a strategic alliance and “investigating several joint projects,” including development of a range of commercial vehicles for global markets.

The Ford logo is seen on a vehicle at the New York Auto Show in the Manhattan borough of New York City, New York, U.S., March 29, 2018. REUTERS/Shannon Stapleton/Files

The companies said the alliance did not involve an equity swap or cross-ownership stakes.

The brief statement provided few additional details, other than to say VW and Ford were “exploring potential projects across a number of areas,” including commercial vehicles.

Ford is a leader in medium-duty trucks in the United States, and its F-series pickup has been the best-selling U.S. vehicle for decades.

VW, which owns the MAN and Scania truck brands in Europe, earlier this year formed a commercial vehicle alliance with Japanese truckmaker Hino Motors Ltd (7205.T), a Toyota affiliate. VW and Hino said they would consider cooperating in areas such as diesel and gasoline-electric hybrid engines, connectivity and self-driving technologies.

VW also has an alliance with Navistar International Corp (NAV.N) and has said it is open to buying a majority stake in the U.S. truckmaker.

Reporting by Jan Schwartz; Additional reporting by Joe White and Paul Lienert in Detroit; Writing by Edward Taylor; Editing by Adrian Croft and Cynthia Osterman

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