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.

Related Content

  • March 2, 2018
    Mark L. Reuss confirmed as ITS America keynote speaker
    ITS America has added executive vice president, General Motors (GM), Mark L. Reuss as a keynote speaker on 06 June 2018 at the conference, in Detroit. He leads the design, engineering, safety, quality, research and development, advanced vehicle technology and program management of the company's cars, trucks and crossovers around the world. In addition, Reuss oversees GM’s Global purchasing and supply chain organisation, and is a member of its executive leadership team and the board of Shanghai General
    Read More
  • August 10, 2017
    Colorado DOT and partners to unveil self-driving work zone vehicle
    US manufacturer of TMA (truck mounted attenuator) trucks Royal Truck & Equipment is to unveil the Colorado Department of Transportation (CDOT) autonomous attenuator truck, along with partners at Colas UK, and Micro Systems. This work zone vehicle has been designed to revolutionise safety for roadway maintenance crews. Usually positioned behind road construction crews in order to protect workers from the travelling public, the Autonomous Impact Protection Vehicle (AIPV) is a self-driving TMA truck that incre
    Read More
  • January 24, 2019
    Bosch to trial driverless tech on Australia’s high-speed rural roads
    Bosch has received an automated driving system (ADS) permit from the Victorian government to test automated vehicle technology on high-speed rural roads in the south-eastern Australian state. Bosch is to use a $2.3 million grant from the Connected and Automated Vehicle (C/AV) Trial Grants Programme to develop the technology, which will be tested later this year. The C/AV programme funded through the government’s $1.4 million Towards Zero Action Plan – an initiative which provides guidelines on how V
    Read More
  • May 9, 2019
    ITS America ‘disappointed’ at Toyota V2X decision
    Trade association ITS America has expressed disappointment that Toyota is pausing its Vehicle to Everything (V2X) deployment in the US. The Japanese car maker sent a letter to the Federal Communications Commission (FCC) saying that a lack of activity from other manufacturers on V2X – plus uncertainty over the regulatory position – had led to the decision. In a statement, ITS America said it was ‘disappointed’, adding: “We appreciate Toyota’s leadership and commitment to life-saving V2X technology.” Th
    Read More

Highlighted Content