Volkswagen and Ford are set to expand their global alliance today, with the expectation that the two companies will form a synergy on electric vehicles.

A press conference followed by a Q&A with Herbert Diess, CEO Volkswagen Group, and Jim Hackett, CEO Ford Motor Company will be broadcast from New York at 1pm (British Summer Time), explaining the alliance’s expansion plans.

The news follows a strategic alliance formed between the two companies last year, to create several joint projects that could extend capabilities and strengthen competitiveness in the market, including developing a new range of commercial vehicles. Speaking about the alliance formed last year, Dr Thomas Sedran, head of volkswagen group strategy, said: “It is of utmost importance to gain flexibility through alliances.”

Volkswagen Group recently opened its Modular Electric Toolkit (MEB) platform to other manufacturers, upon which the German brand is basing its forthcoming line-up of electric cars, commencing with the ID.3 due next year and to be revealed in production-ready form at the IAA Frankfurt Motor Show on Thursday, 12 September 2019.

Michael Jost, chief strategist at Volkswagen, said that the Modular Electric Toolkit (MEB) should be a standard not just for Volkswagen Group: “We intend to make the MEB accessible to our entire industry. That is a paradigm shift for us.” Adding that Volkswagen was already in advanced talks with some competitors, particularly in the volume segment.

Volkswagen and Ford have previously collaborated on projects, including the Volkswagen Sharan and Ford Galaxy joint-venture in the mid 90s.

WATCH LIVE ON FLEET WORLD 1pm (BST), Friday 12 July 2019