FRANKFURT: Volkswagen and Ford are in preliminary talks over a development and production alliance for commercial transporter vans, two sources familiar with the matter said on Tuesday.
An announcement could come as soon as Tuesday after Volkswagen's supervisory board gave its managers a green light to strike a deal with U.S.-based Ford, two Germany-based sources said.
The goal is a partnership to share development and production costs, the sources said. Some preliminary talks have already been held, one of them said.
Volkswagen declined to comment on a possible alliance with Ford, but said: "As a leading automotive producer we consider various joint ventures with other companies across the globe."
Ford in Europe had no immediate comment.
(Reporting by Jan Schwartz; Writing by Edward Taylor; Editing by Douglas Busvine and Sabine Wollrab)