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“Our (memorandum of understanding) with VW covers conversations about potential collaborations across a number of areas. It is premature to share additional details at this time,” Ford spokesman Alan Hall said in an email. Automakers globally are discussing teaming up to share the cost of developing autonomous and electric vehicles. Partnerships on autonomous driving technology differ by region. Honda Motor Co (7267.T) this month said it would invest $2.75 billion and take a stake in General Motors Co’s (GM.N) Cruise Automation self-driving vehicle unit to jointly develop autonomous vehicles for deployment in ride service fleets globally.
VW and Ford are under pressure to roll out more EVs in Europe, where emissions rules are being tightened in the wake of Volkswagen’s diesel emissions pollution scandal, Volkswagen Chief Financial Officer Frank Witter on Tuesday said the carmaker was open to deeper alliances with outside companies, particularly in the area rose gold mop stripe cufflinks of autonomous driving, Witter said sharing the carmaker’s electric cars platform MEB with Ford was theoretically possible, although VW is currently focused on rolling out the electric vehicle technologies among its own brands..
VW officials have repeatedly emphasized that the only way to make electric cars a mass market product is through economies of scale to make them as cheap or cheaper than diesel vehicles. VW Group is investing 34 billion euros into e-mobility and autonomous driving by 2022 and plans to make 2 million to 3 million full-battery electric cars by 2025. VW’s MEB project already includes 50 billion euros in battery cell procurement by 2025. Ford executives and other sources previously told Reuters the two automakers were in talks about expanding product and technology alliances.
VW and Ford are already part of a joint venture, dubbed IONITY, rose gold mop stripe cufflinks with BMW AG (BMWG.DE) and Daimler AG (DAIGn.DE) to develop an ultrafast EV charging station network across Europe, In July, Ford created a separate $4 billion unit to house its self-driving vehicle operations and was seeking outside investors in a move similar to one made by GM with Cruise, Ford said then it would invest $4 billion through 2023 in its newly formed Ford Autonomous Vehicles LLC, including the $1 billion it previously had earmarked for Argo AI, the Pittsburgh-based self-driving startup that Ford acquired in 2017..
NEW YORK (Reuters) - Robust corporate results helped world stock markets surge on Wednesday, bringing some relief to jittery investors after a brutal October sank equities with one of their worst drops since the financial crisis 10 years ago. Strong earnings reports in the United States and Europe spurred a broad rally, despite data showing that China’s factory growth slowed to its lowest in two years. Investors rushed into the U.S. dollar, sending it to a 16-month high while the offshore Chinese yuan languished at a 22-month low.
The MSCI world equity index, which tracks shares in 47 countries, rose 1.3 percent, but remains down 7.3 percent in October, its biggest monthly decline since 2012, The index has dropped approximately 11 percent from all-time highs hit in January, The recovery in global stocks, including gains overnight on Wall Street, pushed Treasury yields higher, Benchmark 10-year notes last fell 11/32 in price to yield 3.1492 percent, from 3.109 percent late on Tuesday, “A lot of these high-growth rose gold mop stripe cufflinks names have really been in bear market territory because of the slump this month, but the valuation correction is allowing some of the bulls to be opportunistic and to jump in at the right moment,” said Ryan Nauman, market strategist at Informa Financial Intelligence in Zephyr Cove, Nevada..
The Dow Jones Industrial Average rose 240.85 points, or 0.97 percent, to 25,115.49, the S&P 500 gained 29.04 points, or 1.08 percent, to 2,711.67 and the Nasdaq Composite added 144.25 points, or 2.01 percent, to 7,305.90. The pan-European STOXX 600 index rose 1.71 percent. Despite the broad rally, investors remained cautious. “Ultimately I’m still of the belief that we are in for more downside and rallies are for selling, but squeezes in bear markets are not normally comfortable affairs,” said Neil Campling, co-head of the global thematic group at Mirabaud Securities.
“I think a 2-3 day battle toward the top of the downtrend, Then we can return to the bigger picture - the mid-terms (U.S, elections), trade wars, rates etc, once a few shorts have been taken out of the tape.”, The dollar index, tracking it against a basket of six major currencies, rose 0.02 percent, with the euro down 0.2 percent to $1.1321, “Euro zone growth figures have been disappointing and the Bank of Japan is striking a dovish stance at a policy meeting today so there is more room rose gold mop stripe cufflinks for the dollar to gain from current levels,” said Paul Bednarczyk, director of G10 FX at Continuum Economics based in London..