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

  • May 1, 2019
    AID partners with Aeva on sensors for AVs
    AID (Autonomous Intelligent Driving), a subsidiary of Audi, is installing Aeva’s 4D Lidar technology to its electric ‘e-tron’ test vehicles in Munich, Germany. AID is hoping the technology will help it bring autonomous vehicles (AV) to urban areas within the next years. Alexandre Haag, AID´s chief technology officer, says Aeva’s 4D Lidar technology was chosen for its “combination of long range, instantaneous velocity measurements at cm/s precision and robustness to interferences”. AID says Aeva’
    Read More
  • February 6, 2017
    Workshop on implications of self driving cars for auto industry
    Autelligence’s new workshop Self-driving cars - Strategic implications for the auto industry and beyond, is a forum for executives on the likely consequences of self-driving cars on the auto manufacturing industry. It offers a framework to work out the strategic implications for OEMs and suppliers through a deeper understanding of the competing business models and an assessment of the current technologies and the strategies of leading companies. The workshops will be held on 23 March at the Frankfurt
    Read More
  • March 19, 2019
    Ficosa pledges €500m investment in C/AV technology
    Spanish firm Ficosa is to put €500m into R&D over the next four years to provide new technology for connected and autonomous vehicles (C/AVs). The firm believes that revenue from its technology systems will rise from €100 million to €800 million over the next five years. Assisted driving and e-mobility are other areas of interest, and the company has already put its money where its mouth is, showing off a new e-mobility development centre last year. The company had overall revenues of €1.28 billion
    Read More
  • December 10, 2018
    Waymo trials commercial driverless taxi service in Phoenix, Arizona
    Waymo has launched a driverless taxi service in Phoenix, Arizona, where riders will be charged for the journeys they take. In a blog post, CEO John Krafcik says the commercial self-driving service – called Waymo One - is available to early riders who have already been using Waymo’s technology. The company hopes to make the service available to more members of the public as it adds more vehicles and drives in more places, he writes. “Self-driving technology is new to many, so we’re proceeding carefully wi
    Read More

Highlighted Content