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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.


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Among the shared projects specified by Volkswagen are a midsize pickup to be developed by Ford; a city delivery van to be developed by Volkswagen; a larger commercial van to be developed by Ford, and a new electric vehicle for Ford of Europe, to be built on Volkswagen's electric vehicle architecture.

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

(Also read: Volkswagen, Ford forge ahead with technology sharing to save costs)

Volkswagen's statement said "further projects are to follow, as is the investment in Argo AI," the self-driving software company backed by Ford and which eventually will be jointly controlled with Volkswagen.

Volkswagen's planned $3.1 billion investment in Argo "remains on track and is expected to close soon," Argo said in a statement on Thursday.

This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.