(Reuters) – Ford Motor Co (F.N) and Volkswagen AG (VOWG_p.DE) mentioned they’ll spend billions of {dollars} to collectively develop electrical and self-driving automobiles, deepening a world alliance to slash improvement and manufacturing prices.

Ford President and CEO Jim Hackett (R) and Volkswagen AG CEO Dr. Herbert Diess attend a information convention in New York Metropolis, New York, U.S., July 12, 2019. REUTERS/Mike Segar

How quickly these investments can pay for themselves is an open query throughout the worldwide auto business.

Ford and VW executives mentioned the most recent collaborations may save tons of of thousands and thousands of {dollars} for every firm. However the initiatives will…

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