At the Deutsche Bank Global Auto Industry Conference at the MGM Grand Detroit, Ford's president of global markets, Jim Farley discussed the F-series trucks and future plans to electrify them. Not only did he say, "We're going to be electrifying the F-series -- battery electric and hybrid," he also announced an all-electric version of the Transit van. Ford confirmed it is launching an electric SUV that is inspired by the Mustang. When asked about the SUV, Farley said, "Trust us, it's a rocket ship," Ford also announced a global alliance with Volkswagen AG where the companies would collaborate on future commercial vehicles such as vans and pickups. The collaboration is expected to yield new autonomous vehicles, mobility services and electric vehicles; with the possibility of other vehicle programs being added in the future. "With the F-150 electric, you don't have to have an expensive generator on site now," he said. "You can just plug your tools into your truck and that electric powertrain will run all the tools on the job site. Customers will pay for that because now they don't have to buy a expensive $10,000 generator."