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

  • June 28, 2019
    ASTC to operate e-bus service in India
    The Assam State Transport Corporation (ASTC) is to deploy 15 electric buses in Guwahati, a city in north-east India. The project is part of the Indian government’s FAME (Faster Adoption and Manufacturing of Electric Vehicles) scheme. A report by Business Standard says each bus will carry up to 31 passengers along a 6.4km route between the neighbourhoods of Kachari and Kamakhya. ASTC will operate a second service along a 38km route from the Inter State Bus Terminal while also running another service in
    Read More
  • February 7, 2019
    No need for safety drivers in AVs, says UK government
    The UK government has signalled that it is ready to allow autonomous vehicles (AVs) with no driver to be tested on public roads. It is already committed to having fully self-driving vehicles on UK roads by 2021. At present, operators are legally required to test AVs only when “a driver is present, in or out of the vehicle, who is ready, able, and willing to resume control of the vehicle”. But the Department for Transport (DfT)’s updated code of practice on trialling AVs on public roads - as opposed t
    Read More
  • January 2, 2018
    CVMA: Quebec's ZEV plan may create unintended consequences
    The Canadian Vehicle Manufacturers Association’s (CVMA’s) president Mark Nantais has stated that Quebec’s Zero Emission Vehicle (ZEV) regulations “may result in unintended consequences for consumers, automobile dealers, industry and ultimately, Quebec's economy,” in response to the new strategy introduced by the province’s government. The standard aims to increase the number of ZEVs in the region and to reduce greenhouse gas and other pollutant emissions. It will come into effect on the 11 January 2018.
    Read More
  • March 13, 2018
    UK govt seeks cycle safety evidence as report calls for new laws
    A report from legal expert Laura Thomas has claimed that there is a strong case for changing the law to combat dangerous cycling, which if implemented, would bring offences in line with dangerous driving. It ties in with the Department for Transport's Call for Evidence, which is seeking to address issues that cyclists and pedestrians face, or perceive when using the road infrastructure. Thomas said: “Overall, in my opinion, the present law on cycling is not sufficient. I suggest that an offence comprising
    Read More

Highlighted Content