Ford and VW team to build vehicles

Ford and Volkswagen are teaming up to produce vans and pickups, the two companies announced at the Detroit auto show. The alliance, which both CEOs will lead, won't involve a merger or equity stakes. For the initial stage in 2022, Ford will build midsize pickups for both companies, "highlighting the growing pressure on global automakers to manage the costs of developing electric and self-driving vehicles,” per Bloomberg.