Automative companies Volkswagen and Ford agreed to co-operate on developing vans and pickup trucks, reducing costs.
Companies stated that they are willing to also co-operate on developing electric and self-driving cars.
Developers predict that profits will rise in 2013, following the start of sales in 2022.
Ford will design and produce medium-sized pickups for both companies and bigger commercial vans for its European clients.
Volkswagen will design and produce smaller vans.
Volkswagen also stated that it would invest $800m to its auto plant in Tennessee to keep up with the innovations in car industry.
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