Volkswagen to Contribute $2.6 Billion to Ford’s Autonomous Venture: Source

Carmaker Volkswagen will inject $1 billion in capital and $1.6 billion worth of assets into Ford’s self-driving unit.

The logo of Volkswagen is seen at their plant in Wolfsburg, Germany on April 12, 2018. Fabian Bimmer/Reuters

HAMBURG—Carmaker Volkswagen will inject $1 billion in capital and $1.6 billion worth of assets into Ford’s self-driving unit, a source close to the matter said on Friday, as the two carmakers deepen a global alliance to share costs.

Volkswagen and Ford said they were in “exploratory talks” about an alliance to develop self-driving and electric vehicles and to complement each other’s global production and sales footprints. They are to announce details on Friday.