Ford launches new autonomous vehicle subsidiary with $4B investment
In a move which will enable US automaker Ford to gain a competitive edge in the newly emerging mobility industry, the automaker has recently launched a new autonomous vehicle subsidiary called Ford Autonomous Vehicles LLC.
The launch of the new subsidiary will apparently give Ford the ability to emerge as a potential leader in electrified, autonomous ride services. The move underscores the automaker’s change over to a new business model, after its emphasis chiefly on trucks and SUVs, as compared to passenger cars, in the recent times.
In announcing its new Ford Autonomous Vehicles LLC subsidiary to achieve its targeted 2021 launch of a self-driving car network, Ford said that it is investing $4 billion in the new unit which will oversee all its AV research. The mentioned investment will include an amount of $1 billion earmarked for Argo AI.
According to the details shared by Ford, the company’s Ford Autonomous Vehicles LLC subsidiary will have several employee teams dedicated to AV research and advanced engineering as well as self-driving systems integration, AV transportation-as-a-service network development, business strategy, user experience, and business development.
The new Ford subsidiary -- which will allow the automaker to capitalize on new market opportunities and speed up its AV business -- will be spearheaded by its CEO Sherif Marakby, who is presently Ford’s Vice President of Autonomous Vehicles and Electrification.
- 597 reads
Related Articles
Popular Stories
In a move which marks the latest electrification effort by UPS, the parcel delivery giant has placed an order for 1,000 electric delivery vans with Ohio-based truck manufacturer Workhorse.
During the course of a recent conversation with Autocar magazine, Swedish automaker Volvo’s COO Jonathan Goodman has disclosed a few details about the first fully electric car to be launched by the company.
In a move which marks a noteworthy partnership between an automaker and a technology company, luxury carmaker Jaguar Land Rover (JLR) -- owned by Indian conglomerate Tata Motors -- will be using Canada-based BlackBerry’s automotive technology in i
German automaker Volkswagen (VW) has recently confirmed that it is planning to produce two of its forthcoming all-electric vehicles in the US. The two vehicles would be the automaker’s all-electric I.D. BUZZ microbus and its all-electric I.D.
In a statement released by a Tesla Motors spokesperson to EV magazine Electrek, the electric-vehicle (EV) maker has signed a ‘Cooperative Agreement’ with the Shanghai Municipal Government to allow the commencement of construction of Gigafactory 3
In a recent Twitter post, electric vehicle manufacturer Tesla’s CEO Elon Musk has announced that he is confident that the company will turn a profit in the in the second half of 2018.
