Ford will design and build the pickups for the companies. It also plans to build larger commercial vans, while VW is expected to work on a city van. The aim of the pact is to help the companies become more cost-efficient and scale up in a number of competitive markets, though the deal does not involve any cross-ownership. VW CEO Dr. Herbert Diess and Ford CEO Jim Hackett will lead a joint committee that oversees the partnership.

It seems any collaboration on EVs, autonomous vehicles and transportation services is in the early stages, but some of the duo's rivals are also teaming up in those fields. US antitrust officials have approved a joint venture between BMW and Daimler. They plan to combine their mobility services, including car sharing, ride hailin and EV charging.