Paris – Leading automakers have signaled their intention to scrap internal combustion engines by 2030 or cut back sharply on their production as the sector turns toward electric vehicles. The latest to unveil plans was German group Daimler, maker of Mercedes Benz and smart cars, which aims to be fully electric before 2030 -- five years ahead of a deadline proposed by the European Commission. Here is a look at who wants to do what. Daimler Plans to invest more than €40 billion ($47 billion) to be able to electrify all of its cars by the end of the decade. From 2025, all Mercedes "architectures" -- the chassis, motor and wheels -- are to be 100% electric. Daimler also plans to build eight factories to produce the batteries that are the vehicles' key component.

FRANKFURT - Volkswagen AG and Ford Motor Co. will cooperate on electric and self-driving car technology, sharing costs on a global scale to take a major step forward in the industry's disruptive transformation. VW will invest $2.6 billion in Ford's autonomous-car partner Argo AI in a deal that values the operation at more than $7 billion, the two manufacturers said Friday in a joint statement in New York, confirming a figure first reported by Bloomberg. This includes $1 billion in funding and VW contributing its Audi $1.6 billion Autonomous Intelligent Driving unit. "While Ford and Volkswagen remain independent and fiercely competitive in the marketplace, teaming up and working with Argo AI on this important technology allows us to deliver unmatched capability, scale and geographic reach," Ford Chief Executive Officer Jim Hackett said. Ford shares climbed as much as 2.1 percent as of 9:40 a.m.