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

  • Free “How to master your traffic” seminar
    October 8, 2013
    Flir ITS, formerly known as Traficon, is organising a free seminar on “How to master your traffic” from 13 to 14 November in Bruges, Belgium. The seminar will give participants an update on the latest developments in intelligent traffic management, together with the tools and cost-effective solutions to: Make your intersections more intelligent; Make your urban traffic run more smoothly and safely; Ensure vulnerable road users can participate safely in traffic: and how to monitor highways, bridges and tu
    Read More
  • Uber bolsters app features to boost micromobility
    October 1, 2019
    Uber is combining its ride-hailing and food delivery apps, while polishing its green credentials and launching a range of new features and partnerships. There is a particular focus on micromobility: bikes and scooters will be displayed on the map inside the ride-hailing giant’s app in 28 cities to make it easier for users to view their options. The company is also expanding its in-app Transit option to include San Francisco, Mexico City and Paris. New Uber Jump bikes and scooters will come with batteries
    Read More
  • Live e-call demonstrations at second Heero conference
    October 8, 2013
    The second HeERO international conference, due to take place at the Hotel Novotel Bucharest City Centre in Bucharest, Romania, on 21 and 21 November, will give participants an exclusive insight into the status of eCall deployment in the HeERO pilot sites; the outcome of interoperability testing; revision to eCall standards; and the recommendations for the large scale implementation of the eCall service in Europe. Conference attendees will also have the opportunity to attend live eCall demonstrations staged
    Read More
  • Registration now open for fourth eCall testfest
    September 25, 2015
    The fourth eCall testfest event, organised by Ertico-ITS Europe and ETSI, will be held in Ostrava, Czech Republic, from 9 to 13 November, hosted by Vítkovice IT Solutions in cooperation with the Ministry of Transport, Ministry of Interior, Fire Rescue Service of the Czech Republic and Vodafone. The testfest will offer the participants opportunity to carry out interoperability tests under more realistic conditions using the eCall flag over the local mobile network operators. During one day, calling the lo
    Read More

Highlighted Content