herbert and ford chief jim hackett make out a new york news conference boosted shares in both automakers. will put $2600000000.00 into ford self driving units are. which is valued at $7000000000.00 . we're now confirming that we will extend our collaboration into autonomy technology we share the view that technology is an enabler and it's not into itself that was one of the 1st things that herb are going to line down but people will remain our constant focus in this ever changing world. ford aim to put autonomous vehicles on the roads in the u.s. and in europe. the deal makes the w. an equal stakeholder in ford self driving cars business and ford will get access to be w.'s electric vehicle technology. they remain competitors in the marketplace but teaming up on our go ai gives them technological know how and scale as well as geographic reach and investment in our ai will provide does this one of a kind of driving system technology it will enable folks walking in forward to sign and manufacture s.t.s. vehicles based on this technology and from our perspective this is a. situation. to tie

emily: vw ceo herbert diess along with ford ceo jim hackett. edition of "bloomberg technology." next week, we will be all over the hearings on capitol hill. facebook called to testify about its libra cryptocurrency project. we will be covering that as well as facebook and google going before the house to talk about antitrust. ♪ we're the slowskys. we like drip coffee, layovers- -and waiting on hold. what we don't like is relying on fancy technology for help. snail mail! we were invited to a y2k party... uh, didn't that happen, like, 20 years ago? oh, look, karolyn, we've got a mathematician on our hands! check it out! now you can schedule a callback or reschedule an appointment, even on nights and weekends. today's xfinity service. simple. easy. awesome. i'd rather not. announcer: the following is a paid program. the opinions and views expressed do not reflect those of bloomberg lp, its affiliates, or its employees. announcer: this program is a paid presentation for omega xl, and is brought to you by great healthworks. ♪ larry: welcome. i'm lar

herbert d's and for chief jim hackett out a new york news conference boosted shares in both automakers volkswagen will put $2600000000.00 into ford self driving units argo ai which is valued at $7000000000.00 we're now confirming that we will extend our collaboration into autonomy technology. we share the view that technology is an enabler in this not into itself that was one of the 1st things that herbert and i align on a people will remain our constant focus in this ever changing world. t w one ford and to put autonomous vehicles on the roads in the u.s. and in europe the deal makes v.w. an equal stakeholder in ford self driving cars business and ford will get access to be w.'s electric vehicle technology. they remain competitors in the marketplace but teaming up on our go ai gives them technological know how and scale as well as geographic reach and investment in our goal ai will provide us this one of a kind of driving system technology it will enable folks walking and forth to sign and manufacture s.t.s. vehicles based on this technology from our perspective this is a written situ

ford's ceo jim hackett says the two companies will remain competitors despite teaming up on this projectollaboration into autonomous technology. we share the view that technology. we share the view that technology is an enabler and not an into itself. that is the first thing we aligned on. we will remain in this ever—changing world. don't forget you can get in touch with me and some of my team on twitter — i'm samanthatvnews if you spent the week dodging the downpour moving across the british isles, there is a change for the weekend, goodbye low pressure and hello to high—pressure settling down and initially fewer showers and expect clear blue skies not warm but fine leather on the way for most of us. still evening showers affecting parts of eastern scotland, eastern england and they will slowly fade as ago england and they will slowly fade as a go deeper into the night, cloud probably increasing but temperatures falling a little bit below than they have on recent nights, it could be a little bit easier for sleeping and a touch fresher out there. so we are onto the weekend and it starts

emily: herbert diess along with ford ceo jim hackett.es it for this edition of bloomberg technology. next week, we will be all over the hearings on capitol hill. facebook called to testify about its libra cryptocurrency project. we will be covering that as well as facebook and google going before the house to talk about antitrust. tune into bloomberg television next week for that and more. that's it for bloomberg tech. it's friday. have a wonderful weekend, everybody. we will see you on monday. ♪ hey! i'm bill slowsky jr., i live on my own now! i've got xfinity, because i like to live life in the fast lane. unlike my parents. you rambling about xfinity again? you're so cute when you get excited... anyways... i've got their app right here, i can troubleshoot. i can schedule a time for them to call me back, it's great! you have our number programmed in? ya i don't even know your phone anymore... excuse me?! what? i don't know your phone number. aw well. he doesn't know our phone number! you have our fax number, obviously... today's xfinity

so we're planning both ways. >> by the way, guys, both herbert december and jim hackett believe the chineses on the cusp of greater consolidation in part because auto sales have slowed down so much over the last six months. guys, back to you. >> thank you, phil. >>> when we come back still going. nike's keeping its plans to build a factory in arizona despite backlash from the governor details on that story next. >>> the black market of cannabis where illegal dispensaries openly break the law it's part of a $70 billion nationwide illicit market crippling the legal industry a sneak peek into our n'gowarsation weed kille dot ay. >>> markets banking on a fed rate cut this month. one top strategist talks about how it's getngru resquawk on the street" is coming up. plike... zelle. to conveniently makesend money sier, to your babysitter. for overtime. or pinacle, to tap into your organization in the office, on the go, or in the stop-and-go. pnc - make today the day. >>> want to give you an update on a story we have been following. nike is reaffirming it will open that manufacturing facilityin ariz

ford ceo jim hackett says the company's joint venture with volkswagen will help capitalize on new technologies. he spoke with bloomberg's david westin. >> you know, we are in close relationship with some of our but whatpartners, is to come to the automotive industry is really big investments in autonomous, big investment into electric vehicles, and it just makes sense, even for two big companies, to share some of their efforts to make them faster and more efficient. david: how does this fit with your restructuring in europe? >> it helps the renaissance. in fact, this idea came in parallel as we work working on the thomas problem last year. in november, i was watching one of my favorite football games. i picked up the phone and called herbert and said, as we were working through this technology, it occurs to both of us that there is opportunity to expand the nature of this. he said, look, you've got to take a look at this architecture. it is quite humble, but it is really extraordinary engineering. it just started to fit together. because these teams were having these early discussions, it was

and this started to change once jim hackett came ceo people said you're not giving us our vision andat the turnaround plan is he's made it clear they have to invest more in electric and autonomous vehicles. this is a big step in that direction. >> pretty interesting. i thought this interview with peter navarro, some news this morning on ongoing u.s./china trade war. one of president trump's top advisers says there's strong support in congress for the trade policy navarro, the white house director of the office of trade and manufacturing policy, spoke to us last hour here on "squawk box. >> we are, in my judgment, in a quiet period before the negotiations ambassador lighthizer is going to go to beijing with the treasury secretary in the very near future and we're going to have constructive talks to deal with these significant structural issues. my advice for investors is to be patient with this process. >> navarro also made a prediction on president trump's efforts to replace nafta, saying he thinks if the replacement u.s./mexico/canada agreement went to a floor vote in congress today