June 19, 2018 / 3:24 PM / 4 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.

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

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 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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