Ford to put USD 1 bln into self-driving tech with new unit

News Wireless United States 13 FEB 2017
Ford to put USD 1 bln into self-driving tech with new unit

Ford Motor Company will invest USD 1 billion over the next five years to develop its expertise in artificial intelligence with robotics expert Argo AI. The companies will develop a virtual driver system for the automaker’s self-driving car set to come out in 2021. The money will also go for potential license to other companies.

Under the deal, Ford will take a majority stake in Argo AI, founded led by former Google and Uber leaders Bryan Salesky (CEO) and Peter Rander (COO), respectively. By the end of this year, Argo AI expects to have more than 200 team members, based in the company’s Pittsburgh headquarters and at major sites in Southeastern Michigan and the Bay Area of California.

Ford said it wants to have a fully autonomous, SAE level 4-capable vehicle for commercial application in mobility services in 2021.

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