GlobalFoundries Inc. and Ford Motor Company announced a strategic collaboration to advance semiconductor manufacturing and technology development within the United States, aiming to boost chip supplies for Ford and the U.S. automotive industry. The companies have signed a non-binding agreement that opens the door for GF to create further semiconductor supply for Ford's current vehicle lineup and joint research and development to address the growing demand for chips to support the automotive industry. These could include semiconductor solutions for ADAS, battery management systems, and in-vehicle networking for an automated, connected, and electrified future.

GF and Ford also will explore expanded semiconductor manufacturing opportunities to support the automotive industry. The announcement is consistent with both companies' commitment to build innovative business relationships to regain supply-demand balance for chips in the auto industry as well as efforts to further accelerate technology innovation for the U.S. auto industry. The collaboration leverages both companies' strengths to better compete, innovate and serve customers.

This strategic collaboration does not involve cross-ownership between the two companies.