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FORD, VW TEAM UP TO MAKE VEHICLE

Ford Motor Co. on Thursday said it and the German automaker Volkswagen AG had agreed in principle to build a multipurpose vehicle for the European market.

Details of the planned joint venture, including cost, date of production and plant sites, were withheld.

A statement said approval is subject to regulatory clearances and confirmation of an investment incentive package agreement with the host country's government.

The two firms are involved in a joint venture in South America called Autolatina.

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