New Ford-Volkswagen Partnership Promises New Pickups, But May Cause Conflict
*By Amanda Weston*
Ford Motor Company and Volkswagen AG [announced](https://media.ford.com/content/fordmedia/feu/en/news/2019/01/15/volkswagen-ford-alliance.html) at the Detroit Auto Show they will form a "broad alliance," but the reality of a partnership may present certain conflicts for both companies.
"I think that this is going to be a very difficult friendship to make work because Ford ($F) is expected to make some pickup trucks for Volkswagen, which sounds good because Volkswagen needs those pickups in other markets," Nathan Bomey, business reporter at USA Today, told Cheddar Wednesday.
"The question is what if they end up wanting pickups in America, which is of course where Ford has its bread-and-butter pickups."
Bomey added that both carmakers will need to remain scrupulous about the details.
"And so they're going to have to make sure that they've got the details of this alliance worked out so that they don't step on each other's toes. But it does make some sense because Ford and Volkswagen need to be much more efficient companies, and in that respect they can help each other."
Both CEOs confirmed they plan to develop commercial vans and medium-sized pickups as early as 2022.
The two companies will also explore collaborating on autonomous and electric vehicles and mobility services. They have also said they are considering more advanced vehicle programs.
"If that comes to fruition, then that could certainly help spread out the cost, which they believe is important to end up getting across the finish line," Bomey said.
"This is very, very costly technology. The regulatory structure is going to be very difficult to navigate, and so they may need to partner to do this. And we are seeing other companies partner as well. The problem is that clash of cultures can be very difficult in the auto industry. You look at the [history](https://www.usatoday.com/story/money/cars/2019/01/15/detroit-auto-show-volkswagen-ford-alliance/2578766002/) of these types of deals, a lot of times the culture clash just doesn't work out well."
For full interview [click here](https://cheddar.com/videos/ford-and-volkswagen-unveil-new-partnership-at-detroit-auto-show).
An independent watchdog within the IRS reports that while taxpayer services have vastly improved, the agency is still too slow to resolve identity theft cases. And National Taxpayer Advocate Erin Collins says those delays are “unconscionable.” Erin M. Collins said in the report released Wednesday that overall the 2024 filing season went smoothly, though IRS delays in resolving identity theft victim assistance cases are worsening. It took nearly 19 months to resolve self-reported identity theft cases as of January, and Wednesday's report states that now it takes 22 months to resolve these cases.
Amazon.com Inc. surpassed $2 trillion in market value for the first time in afternoon trading on Wednesday. The push higher for Amazon’s stock market valuation comes a little more than a week after Nvidia hit $3 trillion and briefly became the most valuable company on Wall Street. Nvidia’s chips are used to power many AI application and its valuation has soared as a result. Amazon has also been making big investments in AI as global interest has grown in the technology. Most of the company’s focus has been on business-focused products.
Climate change doesn’t just mean more extreme weather – it also leads to billions of dollars in lost productivity, tourism, and stresses infrastructure.
It’s an annual tradition: the Fed’s banking ‘stress test.’ A year after the regional banking crisis, there are good reasons to make sure they’re prepped.
Summer is upon us, which means weddings, trips overseas, and trips to see Taylor Swift. Avoid a “Cruel Summer” with these budget-friendly tips and tricks.
While Nvidia's meteoric rise led it to briefly dethrone Microsoft as the world's biggest public company, there's a lot more going on in this market than A.I.