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

  • Latest publications from ITS-JPO
    December 3, 2014
    Recently released publications from the Intelligent Transportation Systems Joint Program Office (ITS-JPO) include the United States-Japan Evaluation Tools and Methods fact sheet and the United States-Japan-European Union Probe Data fact sheet.
    Read More
  • Parkcloud enters new partnership and renewals contract
    March 20, 2018
    Parkcloud has finalised a partnership ahead of Intertraffic with Viamilanoparking to make all the car parks at Milan airports Milano Linate and Milano Malpensa available on its global parking booking platform. The deal intends to enable nearly three million users to book spaces in all official on-site car parks. Through the agreement, 9,000 spaces will become available at Milano Malpensa airport across five car park categories: P1 Long Term, P2 Executive, P3 Express, P4 Holiday and P5 Easy. Both indoor and
    Read More
  • High-speed markings measurement from AMAC
    March 25, 2014
    The Advanced Mobile Asset Collection (AMAC) system measures traffic sign and pavement marking retroreflectivity while creating a comprehensive asset inventory and condition assessment. AMAC was developed through a team of engineers, physicists, psychologists and statisticians by DBi/Cidaut Technologies, a partnership between the US’s DBi Serives and Spain’s CIDAUT Foundation.
    Read More
  • LAX bans ride-hailing pick-ups at terminals
    October 8, 2019
    Los Angeles International Airport (LAX) is to ban ride-hailing companies such as Uber and Lyft from picking up passengers outside its terminals. The draconian move, which is planned to come into force later this month, is in a bid to reduce congestion at the airport - although the Los Angeles Times reports that passengers will still be able to book rides home from a parking lot near Terminal 1, which can be reached by airport shuttle. Questions over ride-hailing’s contribution to gridlock continue to
    Read More

Highlighted Content