Ford Signs GM Transmission Deal

Ford Motor Company (NYSE:F) has partnered with General Motors to develop 9- and 10- speed transmissions.

Ford Signs GM Transmission Deal

Ford Motor Company (NYSE:F) has joined hands with the rival General Motors to develop 9- and 10-speed automatic transmissions to improve fuel economy of their vehicles.

As part of the agreement, GM will develop the nine-speed transmission for front-wheel drive vehicles and Ford will work on developing 10-speed transmission for rear-drive vehicles.

Ford Motor Company (NYSE:F) and GM have signed a memorandum of understanding (MoU) and they started the work early this year. Ford Motor Company (NYSE:F) declined to comment on the deal.

Ford Motor Company (NYSE:F) shares are currently standing at 9.86.

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