The founders of the former self-driving unit of Ford Motor Co. and Volkswagen AG are launching a new autonomous trucking startup, Stack AV,  with backing said to be more than $1 billion.

Ford Motor Co. CEO Jim Farley said rival Tesla Inc. could start a price war and turn certain electric vehicle models into commodities after it cut prices again.

Ford Motor Co. rose more than 7% after the carmaker’s latest quarterly sales results showed growing demand for its lineup of electric vehicles, including its flagship F-150 Lightning plug-in pickup.