Ford Motor Company will invest $4 billion in its autonomous vehicles (AV) business through 2023. The company is organising its self-driving business into Ford Autonomous Vehicles LLC, which will include Ford’s self-driving systems integration, autonomous vehicle research and advanced engineering, AV transportation-as-a-service network development, user experience, business strategy and business development teams. The new LLC, which is structured to take on third party investment, will be primarily based at Ford’s Corktown campus in Detroit and will hold Ford’s ownership stake in Argo AI, the company’s Pittsburgh-based partner for self-driving system development.
“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,” said Jim Hackett, President and CEO, Ford Motor Company.