Ford Motor Co. F, +0.69% and Germany’s Volkswagen AG VLKAF, -2.17% are set to announce on Friday new partnerships on driverless and electric vehicles, funneling “billions of dollars” into their deal and sharing intellectual property and hardware, according to a report on CNBC on Thursday. The companies have scheduled a press conference for Friday at 8 a.m. Eastern. Ford and Volkswagen earlier this year entered an agreement around commercial vehicles. Shares of Ford rose 0.2% on Thursday and are up 32% this year, compared with gains of 19% and 16% for the S&P 500 index SPX, +0.04% and the Dow Jones Industrial Average DJIA, +0.64%