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

  • November 28, 2018
    CTS extends contactless payments to Sydney's trains
    Cubic Transportation Systems (CTS) is extending Sydney’s contactless payment system beyond light rail and ferries to include the Australian city’s train network. The technology allows commuters to pay for ticketing via credit cards, smart watches and other electronic devices, alongside the Opal card. CTS’s Asia-Pacific team and Transport for New South Wales initially made the contactless system available for the city’s Manly ferry service in 2017. In March this year, the contactless system was ext
    Read More
  • February 24, 2017
    ITS World Congress 2017 - call for papers deadline is 3 March
    There is still time to submit papers for the 24th ITS World Congress 2017 in Montreal, which is hosted by ITS America will host the event from, 29 October to 2 November, with the theme of ‘Integrated Mobility Driving Smart Cities’. If you have undertaken research on an advanced ITS topic, the World Congress International Program Committee invites you to present your findings in Montreal by submitting a paper through the submission website. (link submission.itsworldcongress2017.org.) The Call for Spe
    Read More
  • December 19, 2016
    ITS associations highlight road safety, video analysis, new regulations
    ITS Australia has welcomed the country's National Transport Commission's roadmap of regulatory reform for automated vehicles, Ertico-ITS Europe has been appointed as the work-package leader for dissemination, exploitation and standardisation for the EU’s Cloud LSVA, French opportunities in the Italian ITS market formed the theme of ITS France’s first international breakfast meeting, TTS Italia vice president Diego Galletta highlighted the role of new technology solutions, Chris Philip, ITS Canada’s new boar
    Read More
  • November 2, 2018
    Waymo gets California green light for public driverless tests
    Waymo has been granted a licence to test fully-driverless cars on public roads in California. It is the first company to be given the green light for such trials in the state – and it means there will be no test driver sitting in the driver’s seat. The permit includes day and night testing on city streets, rural roads and highways with speed limits of up to 65mph. Waymo insists: “Our vehicles can safely handle fog and light rain, and testing in those conditions is included in our permit. We will gradual
    Read More

Highlighted Content