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Ford plans to invest $4bn on autonomous vehicles by 2023

ABR Staff Writer Published 25 July 2018

Ford said it expects to invest $4bn in its autonomous vehicles (AV) efforts through 2023, including its $1bn investment in Argo AI.

 The company created Ford Autonomous Vehicles, which will feature all aspects of its self-driving vehicle business operations, to speed up its AV business and capitalize on market opportunities

Ford Autonomous Vehicles will include its self-driving systems integration, autonomous vehicle research and advanced engineering, autonomous vehicle transportation-as-a-service network development, user experience, business strategy and business development teams.

Ford stated that the new subsidiary will be structured to take on third party investment. It will be based at Ford’s Corktown campus in Detroit and will inherit the ownership stake in Argo AI, the company’s Pittsburgh-based partner for self-driving system development.

Ford autonomous vehicles and electrification vice president Sherif Marakby has been appointed as the CEO of Ford Autonomous Vehicles and will report to a board of directors chaired by Ford’s executive vice president and Mobility president Marcy Klevorn.

Ford Motor president and CEO Jim Hackett said: “Ford has made tremendous progress across the self driving value chain – from technology development to business model innovation to user experience.

“Now is the right time to consolidate our autonomous driving platform into one team to best position the business for the opportunities ahead.”

As a result of this move, Ford electrification global director, Ted Cannis will lead Ford’s Team Edison, which will be responsible for the development of next generation electric vehicles. Team Edison will report to Ford executive vice president and global markets president, Jim Farley.

The company stated that its new electric vehicle strategy is to rethink ownership experience and includes making vehicle charging effortless, both at home and on the road, as well as offering full-vehicle over-the-air software updates to improve capability and features.

Besides this, Ford is also reorganizing its Global Operations division led by Executive Vice President Joe Hinrichs and from now on will include Information Technology as well as the company’s global order-to-delivery system, integrating the teams, technologies and processes from both across Ford’s production system.

Image: Ford’s autonomous vehicle. Photo: Courtesy of The Ford Motor Company.