Ford and Volkswagen team up on self-driving and electric cars

New York (CNN Business)Volkswagen and Ford announced plans Friday to work closely to develop electric- and self-driving vehicles, the latest automakers to partner in the face of massive changes rocking the auto industry. “We stand at the precipice of biggest shift in transportation since [the one] Henry Ford initiated over 116 years ago,” said Hackett speaking to analysts and media. “Our industry and the world is being upended by technology and innovation.” Traditional automakers are worried they could be left behind by changes in the market brought about by tougher environmental regulations in Europe and elsewhere, as well as new players such as Uber (UBER) and Tesla (TSLA) and potentially deep-pocketed tech companies such as Google parent Alphabet (GOOG) and …