Volkswagen board formally okays Ford alliance projects

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Volkswagen board formally okays Ford alliance projects
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Volkswagen said on Thursday its supervisory board had approved several projects in a multibillion-dollar alliance with Ford Motor that was first announced last July.

The German carmaker said various contracts between the two companies were nearing completion and would be signed soon.

Regarding official approval of the agreements, a Ford spokesman on Thursday said, “We look forward to jointly providing an update soon.”

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