VW and Ford in talks on self-driving and electric vehicles

Ford Motor Company's headquarters in Dearborn. VW and Ford are under pressure to roll out more EVs in Europe. [Photo: Courtesy]

FRANKFURT/DETROIT - Volkswagen AG (VOWG_p.DE) and Ford Motor Co (F.N) are in “exploratory talks” to jointly develop self-driving and electric vehicles in a far-reaching strategic alliance meant to save the companies billions of dollars, according to a person familiar with the matter.

The German and US automakers are expected to provide an update on the progress of the talks before year end, said the person, who asked not to be identified.