Addleshaw Goddard has continued its leading advisory role on the latest development for one of world's largest global alliances between Volkswagen AG and Ford Motor Company. The VW supervisory board today announced it has approved further contracts with Ford for the development and supply of vehicles globally.
This new milestone marks the green light for three projects in the areas of electric and commercial vehicles. The alliance – which does not involve cross-ownership between the companies – is expected to create annual efficiencies for each company. It will see Volkswagen´s Modular Electric Toolkit (MEB) will be used by Ford for an electric vehicle platform, a midsize pickup developed by Ford and adapted by Volkswagen Commercial Vehicles, and two further commercial vehicles developed.
The AG team, made up of around 30 lawyers across multiple offices in Europe, is led by Commercial Partner, Fiona Ghosh who said:
"This latest development, in a unique collaboration, sees two of the largest automotive manufacturers in the world working together to harness change; both within the motor industry and also more widely in the world of engineering and the management of technology and supply chains on a global scale.
It is a tremendous transaction, on so many levels. We are delighted to bring our expertise and experience to support VWAG since the alliance's inception and particularly now that this latest goal has now been achieved, at a time when the world is in need of good news. We look forward to the next stage of making both parties' continued vision a reality."