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 22, 2018
    Data Collect exhibits range of traffic solutions
    Data Collect is showcasing a range of new solutions that aim to provide clients with an improved quality of traffic data collection. The Argos portable artificial intelligence (AI) traffic object analyser is said to combine AI with machine vision for object tracking, classification and speed measurement. It features an eye device which carries out turning movement count and vehicle classification at intersections as well as origin / destination count and vehicle classification at roundabouts. The platform
    Read More
  • July 28, 2017
    US connected vehicle pilot deployment sites launch new websites, videos
    The US Department of Transportation (USDOT) connected vehicle pilot locations, New York City (link https://www.cvp.nyc/), Wyoming (link https://wydotcvp.wyoroad.info/) and Tampa, Florida (link https://www.tampacvpilot.com/), have launched new websites and videos dedicated to their connected vehicle deployments. These three locations are leading the charge to deploy advanced wireless communications technology in their vehicles and on their roads in regions throughout the nation. The web sites provide informa
    Read More
  • February 12, 2018
    Inrix: Congestion cost UK motorists over £37bn in 2017
    The UK is the third most congested country in Europe and the tenth most congested country in the world where costs amounted to more than £37.7bn ($52.2bn) for all drivers in 2017, an average of £1,168 ($2,233) per person. These findings come from Inrix’s annual Global Traffic Scorecard which analysed and ranked the impact of traffic congestion in 1,360 cities across 38 countries. London remained the UK’s most congested major city for the tenth consecutive year as drivers spent an average of 74 hours in
    Read More
  • April 22, 2013
    Open Roads updates Alaska’s 511 website and wins Virginia contract
    Open Roads and the Alaska Department of Transportation and Public Facilities (DOT&PF) have introduced a new version of the 511 Traveler Information Website
    Read More

Highlighted Content