Ford and Volkswagen join forces for new technology

TOLEDO (WTVG) - Auto industry watchers say Ford and Volkswagen have the right idea with their new partnership to develop autonomous and electronic vehicle technology.

The companies on Friday announced Friday that Volkswagen will invest $2.6 billion into a Pittsburgh autonomous vehicle company that's mostly owned by Ford.

Jessica Caldwell, executive director industry insights for the Edmunds.com auto pricing site, says the deal should help both companies and is an example of what's needed in the business to share enormous capital costs.

She says both automakers are facing immense challenges and that together, they can reinvent themselves as innovative technology leaders.

Caldwell says the partnership will help to accelerate the development and adoption if new, high-tech vehicles.