The rapid emergence of electric vehicles (EVs) and related autonomous driving technologies and mobility services is disrupting the global auto industry in ways that would have been unthinkable just five years ago.

Yesterday two of the world's largest car manufacturers provided the latest evidence of how the technological transformation that is accelerating across the sector is re-making the market landscape, as Volkwagen and Ford announced a wide-ranging new partnership designed to bolster their competitiveness as demand for EVs and other clean technologies accelerates.

Volkswagen CEO Dr. Herbert Diess and Ford CEO Jim Hackett jointly announced that the two companies have inked two agreements as part of the new alliance: a formal agreement to develop commercial vans and medium-sized pickups for global markets beginning as early as 2022 and a memorandum of understanding (MoU) to "investigate collaboration on autonomous vehicles, mobility services and electric vehicles". They added that the two firms have already started to explore opportunities in these areas.

Both VW and Ford stressed that the alliance does not involve cross-ownership between the two companies, but they predicted sharing investments in vehicle infrastructures and exploiting economies of scale and efficiencies as demand for new technologies increases will allow the firms to "better compete, innovate and serve customers".

"Over time, this alliance will help both companies create value and meet the needs of our customers and society," Hackett said. "It will not only drive significant efficiencies and help both companies improve their fitness, but also gives us the opportunity to collaborate on shaping the next era of mobility."

His comments were echoed by Diess who said VW and Ford would "harness our collective resources, innovation capabilities and complementary market positions to even better serve millions of customers around the world".

The move is the latest in a flurry of EV-related announcements from VW, which this week announced plans to invest $800m in a new US EV factory and last week confirmed the launch of a new subsidiary dedicated to providing EV-related technologies and services, including the provision of green power.

The news also comes as the venture capital arm of Volvo Group announced it has invested an undisclosed sum in Momentum Dynamics, a start-up focused on the wireless charging for EVs.

The Philadelphia-based company specialises in developing and commercialising high power inductive charging for the automotive and transportation industries.

"Momentum Dynamics' technology and competence within inductive bi-directional transmission of electrical energy and information safely through air, water and ice will fit the harsh conditions under which our customers operate," said Per Adamsson, Vice President at Volvo Group Venture Capital. "High capacity charging up to 300kW for trucks, buses, construction equipment, industrial and marine applications will support the electrified transition."

Financial details of the investment were not disclosed, although Volvo said "the transaction has no significant impact on the Volvo Group's earnings or financial position".

Advocates of wireless charging argue that it could streamline charging for EVs, making it easier for drivers to top up batteries opportunistically through car parks or even roads that feature embedded wireless charging systems.

Stefan Söderling, investment director at Volvo Group Venture Capital, said the deal provided further evidence of the company's commitment to green technologies, as well as its growing interest in co-operating with other firms working in the EV sphere.

"For Volvo Group we are strengthening our competence and knowledge of charging and electricity distribution within the ecosystem around electric transportation and energy supply," he said. "We see partnership, cooperation and investments as the way forward in a fast-changing environment."