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Chevrolet and Ford have announced a joint venture to build the next generation pickup truck. The new truck will be replacing the bestselling Ford F-Series and Chevrolet Silverado, and will be badge engineered as a Ford or a Chevrolet. While still in the early stages of development, a prototype is expected to be officially revealed in 2026.

The joint venture will combine the engineering and manufacturing expertise of both companies to develop a truck that is both efficient and capable. The truck is expected to be available in a variety of configurations, including both 2WD and 4WD. This move is a significant development for both Chevrolet and Ford, as it allows the Detroit-based rivals to share the cost of developing a new truck, and also gives them access to each other’s engineering and manufacturing expertise. It is also expected to bring EcoBoost Duramax engines, in a bid to boost the fuel efficiency of diesel pickups. Notably, the GMC Sierra, a badge engineered Chevrolet Silverado, will continue as a standalone offering.

The new truck will rival the Dodge RAM, Toyota Tundra, and Nissan Titan. It will also help the companies remain competitive against newer electric pickup truck offerings, like the Rivian R1T and Tesla Cybertruck.

The joint-venture is a sign of changing times in the automotive industry. As the industry becomes more competitive, companies are increasingly looking to partner with each other to share the cost of development and boost already slim profit margins.

In related news, Tesla has announced that the 2019 Cybertruck is nearly ready for mass production, and will start shipping units for delivery in early 2025.