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 30, 2019
    InDriver launches ride-hailing service in South Africa
    InDriver has launched its ride-hailing service in Johannesburg, South Africa, which allows the driver and rider to negotiate lower fares. A report by IT News Africa says drivers can use the InDriver app to accept or ignore offers as well as negotiate for a higher price. Rifqa Carr, InDriver spokesperson says: “Drivers have the freedom to choose whichever ride request they like, without any risk of being penalised. They’re also able to see the full fare, from point A to point B, and can then decide
    Read More
  • March 26, 2019
    ST adds BYD to Singapore bus consortium
    ST Engineering has added BYD as its first partner in a consortium which seeks to deploy driverless buses in Singapore. The company is equipping BYD’s electric buses with autonomous vehicle technology. The vehicles will operate in the towns of Punggol, Tengah and the Juroung Innovation District located in Singapore’s western corridor. The consortium is being formed following a request from Singapore’s Land Transport Authority and the Singapore Economic Development Board to trial autonomous buses and shut
    Read More
  • March 21, 2018
    Cisco’s low-cost fibre optic solution for traffic monitoring
    Cisco’s display focuses on a novel way of detecting traffic speeds, congestion and incidents without the use of loops. The company is using a fibre optic cable positioned alongside the road and down which it shines a light. Vibration created by passing vehicles create vibration which disrupts the passage of the light. Cisco has developed algorithms that can translate these disruptions to determine what type of vehicle is passing, in which direction, the lane it is using and the speed it is travelling. The
    Read More
  • January 8, 2014
    ITS European congress papers deadline extended
    The deadline for paper and special interest session proposal submissions for the ITS European Congress and Exhibition in Helsinki has been extended to midnight on 14 January. We have already received many valuable submissions and we thank you for your contributions. Papers and special interest session proposals should be submitted through the submission portal, which also provides the submission guidelines. For further details on the congress and exhibition, visit the Congress website.
    Read More

Highlighted Content