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

  • Stockholm seeks intelligent transport solutions
    May 21, 2012
    The city of Stockholm is inviting submissions of solutions for its “Intelligent Transport Solutions” challenge by 28th February. Kista Science City is seeking solutions that are innovative, customer-oriented traveller services to support shifts in mobility patterns, away from cars toward public transport, biking and walking. The winner will be invited to pilot the solution in the city, with full support by all local stakeholders to evaluate the solution before a full-scale roll-out.
    Read More
  • Singapore LTA extends contactless Visa payments
    May 23, 2019
    Singapore’s Land Transport Authority (LTA) is to extend its SimplyGo system to allow commuters to pay for transport via Visa contactless cards from 6 June. The move follows an initial launch in which SimplyGo was made available for commuters using Mastercard in March. Yeo Teck Guan, LTA senior group director, public transport, says: “We are seeing a steady uptake in usage since its launch, with an average of over 120,000 daily trips. With the inclusion of Visa, more commuters will benefit,” Users
    Read More
  • Exploring the future of intelligent road transport
    September 2, 2014
    Connected Vehicles, a conference organised by European Voice, will take place on 18 September 2014 in Brussels. This one-day international event will discuss the main factors of vehicle connectivity with policy-makers and industry leaders of the sectors involved. In May, the European Parliament and the Council approved the deployment of the interoperable EU-wide eCall system. To allow member states to adapt the necessary infrastructure, this emergency call system will have to be operational by October 2017
    Read More
  • Flir training webinars
    February 19, 2016
    The Flir Traficon Academy is organising a variety of training courses this month, covering covering topics such as the Flir ThermiCam and Flir ITS solutions. More information and registration details are available here. (link www.flir.co.uk/traffic/display/?id=66621
    Read More

Highlighted Content