Ford Motor Company (NYSE:F) and Zipcar Inc (NASDAQ:ZIP) has announced a partnership where Ford will become Zipcar’s largest source for the company’s Zipcar University program. The Ford and Zipcar alliance will last two years and will reach students across 250 university campuses.

Zipcar, the car-sharing company based in Cambridge, MA has acquired Streetcar, a U.K. car company that has a similar business model. “When considered along with our investment in the largest car sharing company in Spain in late 2009, this transaction gives us a very strong base from which to expand to additional European markets,” stated Zipcar chairman and CEO Scott Griffith. No word on how much the financial details were, but rumor has it that Zipcar spent about $50 million. [Xconomy]