General Motors Corp. and Ford Motor Co. announce they have a "memorandum of understanding" to jointly develop an all-new 6-speed automatic transmission for front-wheel-drive (FWD) vehicles. The two auto makers say the historic collaboration will potentially save each hundreds of millions in investment costs, as transmissions remain one of the industry’s most expensive components to develop. The transmission also will provide a 4% to 8% improvement in fuel economy compared to the 4-speed ...

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