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

  • Ticket buying easier with Budapest transport
    July 24, 2014
    Budapest transport operator BKK Centre for Budapest Transport has introduced new ticket vending machines which accept both cash and card payments, enabling all passengers to buy tickets round the clock. The company has added an English language instructional video and interactive demo to its website (link www.bkk.hu/tvm) and the vending machine menus are available in Hungarian and English, with German, French, Spanish, Romanian, Slovak, Chinese and Russian to follow shortly.
    Read More
  • Here Technologies: location data sharing needs fundamental rethink
    March 7, 2018
    76% of 8,000 individuals surveyed across eight countries feel stressed or vulnerable about sharing their location data, according to a new study by Here Technologies (Here). The report highlighted concerns that companies are abusing public trust in how they gather and use location data, which it claims will mean a fundamental rethink is necessary to help consumers embrace new services such as autonomous cars. The respondents stated that insufficient controls for management of personal data along with
    Read More
  • IRF webinar on pedestrian safety in the work zone
    April 24, 2015
    As a continuation of the International Road Federation (IRF) e-learning webinar series, the IRF Road Safety Subcommittee on Work Zones and Temporary Traffic Control Safety is to present a webinar on Pedestrian Safety in the Work Zone on 29 April. This can be especially true for pedestrians with disabilities. This webinar will examine the issue of pedestrian safety and identify best practices and other considerations to facilitate the safe and proper flow of pedestrian traffic during construction. Whilst
    Read More
  • USDOT launches EAR workshop on vehicle noise
    August 2, 2013
    The Federal Highway Administration (FHWA) is to convene a two-day n Exploratory Advanced Research (EAR) Program workshop on the use of vehicle noise for roadway, bridge, and infrastructure monitoring. To be held at FHWA's Turner-Fairbank Highway Research Center in McLean, Virginia from 12:30 pm on 20n August to 12:30 pm on 21 August 2013, the workshop will provide participants from academia, the private sector, and government with an opportunity to discuss recent research and methodologies for measuring int
    Read More

Highlighted Content