Ford to invest $4bn in AV business segment by 2023

Auto giant Ford intends to invest $4bn by 2023 to develop an autonomous vehicle (AV) business unit. The new subsidiary will be located mainly at its Corktown campus in Detroit. Called Ford Autonomous Vehicles, the business will host the company’s self-driving systems integration, AV research and advanced engineering, AV transportation-as-a-service network development, user experience, business strategy and business development teams. A report by TechCrunch says the initiative includes a $1bn investment
July 31, 2018 Read time: 1 min

Auto giant 278 Ford intends to invest $4bn by 2023 to develop an autonomous vehicle (AV) business unit. The new subsidiary will be located mainly at its Corktown campus in Detroit.

Called Ford Autonomous Vehicles, the business will host the company’s self-driving systems integration, AV research and advanced engineering, AV transportation-as-a-service network development, user experience, business strategy and business development teams.

A report by %$Linker: 2 External <?xml version="1.0" encoding="utf-16"?><dictionary /> 0 0 0 link-external TechCrunch TechCrunch link false https://guce.oath.com/collectConsent?brandType=nonEu&amp;.done=https%3A%2F%2Ftechcrunch.com%2F2018%2F07%2F24%2Fford-plans-to-spend-4-billion-on-autonomous-vehicles-by-2023%2F%3Fguccounter%3D1&amp;sessionId=3_cc-session_51314c9f-1970-47f7-a547-41a553c7763c&amp;lang=&amp;inline=false false false%> says the initiative includes a $1bn investment in Argo AI, Ford’s Pittsburgh-based partner for self-driving system development.

Jim Hackett, CEO of Ford, says: “Now is the right time to consolidate our autonomous driving platform into one team to best position the business for the opportunities ahead.”

Sherif Marakby, who leads the company’s AV and electrification division, has been appointed CEO of Ford Autonomous Vehicles.

For more information on companies in this article

Related Content

  • Via offers on-demand shared transit for Massachusetts seniors
    June 27, 2019
    Via has launched an on-demand shared transit system for people over the age of 60 in the City of Newton, Massachusetts. Via says the service replaces a taxi voucher system which required passengers to make reservations at least 72 hours in advance. The company will also offer trips to a range of medical facilities outside the city’s boundaries. Using the Via app, riders can hail a vehicle from their smartphone. The company’s algorithms allow riders to share the vehicle and directs users to a nearby pick-
    Read More
  • Birmingham has highest number of ULEVs in UK
    June 12, 2018
    The city of Birmingham is home to the highest number of ultra-low emission vehicles (ULEVs) in the UK, according to new research: there were 12,247 licenced models as of Q4 last year, says number plate specialist Click4reg. Its analysis of the top 20 UK local authorities was carried out ahead of government plans to host a zero-emissions vehicle summit in September 2018. The event is due to focus on vehicle technology to tackle carbon emissions and improve air quality. The research showed that Peterbo
    Read More
  • Scania to deploy more than 700 gas buses to Bogotá
    January 8, 2019
    Scania is to deliver 741 Euro 6 gas buses to Bogotá, Colombia, in a deal which is expected to reduce carbon emissions by up 20%. This deployment serves as an extension to an initial order placed by TransMilenio for the procurement of 481 Euro 6 gas buses and is part of the city’s bus rapid transit (BRT) renewal programme. Masivo Bogotá will operate the 260 bi-articulated Scania F340 HA 8x2 buses across 18 stations on the Américas BRT line. Carlos Ocampo, Scania Colombia's managing director, says:
    Read More
  • ITS America free webinar series: Connected vehicles and the environment
    December 7, 2012
    The third webinar of the AERIS autumn/winter 2012-2013 webinar series will take place on Wednesday, 12 December 2012 at 1:00 pm EST. The webinar will provide an overview of the draft concept of operations for the dynamic low emissions zones transformative concept. As part of the AERIS program's efforts to develop ways in which real-time transportation system data could improve the operation of the surface transportation network, six transformative concepts, or bundles of applications, were identified. Each
    Read More

Highlighted Content