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 15, 2018
    Fujitsu: technology set to change UK transport in 2018
    60% of UK transport leaders surveyed believe technology will be crucial to overcoming socioeconomic issues that the country faces today, according to Fujitsu’s Technology in a Transforming Britain report. It found that 31% of organisations will implement robotic process automation over the next 12 months while slightly less plan to invest in artificial intelligence. In addition, 28% will utilise biometrics over this period. The study also revealed that 87% of organisations think technology is driving
    Read More
  • September 26, 2017
    Demonstrations confirmed for ITS World Congress Montreal 2017
    More than 25 companies and Universities are lined up to present the latest technologies in advanced mobility at ITS World Congress Montreal 2017. These will include real-time link with TMCs across Canada for virtual TMC demonstration; a data- and vision-based approach to connected traffic light implementation and predictive technology; V2X safety applications and; the safety benefits of live video at busy intersections. Participants will also be able to experience real-time space detection technology wit
    Read More
  • January 16, 2019
    MaaS Market London: Top names debate local authorities’ digital dilemma
    Key players in the transport sector will debate the challenges faced by local authorities worldwide from new digitised platforms such as Mobility as a Service (MaaS) in a dedicated session at ITS International’s 2019 MaaS Market Conference in London this March. Taxi-hailing apps have already demonstrated the disruptive nature of new digitised transport services. As a result, some local authorities have struggled to retain control over issues such as traffic management and the vetting of taxi drivers and
    Read More
  • May 17, 2012
    Exhibition space at ITS World Congress going fast
    With over five months to go before the 18th World Congress on Intelligent Transport Systems gets underway in Orlando, Florida (from October 16-20), 89 per cent of the current exhibit floor plan has now been reserved, according to ITS America's director of business development, Barbara M. O'Connor.
    Read More

Highlighted Content