+1-888-308-5802     
News Contact Us

Ford’s self-driving cars to shift under Ford Autonomous Vehicles

Author : Paroma Bhattacharya | Published Date : 2018-07-27 

Ford Co. recently announced that its autonomous vehicle business will be separated into a new organization and will be based in the automaker’s Corktown campus. Ford is apparently investing $4 billion into this initiative by 2023.

Reports claim that Ford Autonomous Vehicles will incorporate all components of its self-driving vehicle business. This is a cue from the Dearborn-based auto giant that its autonomous vehicle research is gaining traction and various other aspects of the company’s autonomous business are getting at a point where they need to break away from the Ford Smart Mobility umbrella.

This new company will be headed by Sherif Marakby, the current VP of Autonomous Vehicles & Electrification, Ford.  Marakby & Ford Smart Mobility will report to a board chaired by Marcy Klevorn, President of Mobility, Ford.

Ford is planning to infuse $4 billion in its autonomous vehicle program to incorporate $1 billion fund in Argo which was announced in 2017. Ford has proposed to bring its fully functional autonomous car without steering or pedals by 2021.

According to Jim Hackett, President & CEO, Ford, this is the right time to consolidate the company’s autonomous driving platform into a single team to position it for future opportunities. He asserted that the company has made excellent progress in self-driving in terms of technological development and business model innovation to better user experience.

The new unit will have teams working on autonomous vehicle research, transportation network development, self-driving systems, advanced engineering, user experience and business strategy & development teams. The unit will hold the company’s ownership stake in Argo AI, a Pittsburgh-based firm developing Ford’s autonomous vehicle’s virtual driving system.

Ford Smart Mobility will handle the company’s other mobility ventures like Chariot shuttle service, fleet management and other services. The recent change is apparently a part of a set of management shifts within the Ford establishment.

About Author

Paroma Bhattacharya

Paroma Bhattacharya

Paroma Bhattacharya, having completed her post-graduation in Journalism and Mass Communication, started her career in writing with resourceful and informative content development across diverse fields. Having dealt in myriad topics ranging from business to real estate, she now pens down articles for fractovia.org and other portals. She can be contacted at- [email protected] | https://twitter.com/paromab1

Related News

Swiggy eying to raise $500 million through South Korean funding

Published Date: 2019-07-15         Author: Paroma Bhattacharya

Swiggy, the online food delivery app is planning to raise funds for its next phase of expansion. The company is reportedly in talks with South Korean venture capital funds, including STIC Investments, Korea Investment Partners, Neoplux & Mirae Asset Management, to bag $500 million in a funding r... Read More

Interbit to upgrade InterbitTM platform, signs contract with Xinova

Published Date: 2019-07-13         Author: Paroma Bhattacharya

Interbit Ltd., a technology platform provider, recently announced progress of its proprietary technology platform, InterbitTM. The company revealed that it would focus solely on the development of the proprietary platform & is testing its performance to allow support of commercial opportunities ... Read More

Albertsons Companies announces to augment its online delivery system

Published Date: 2019-07-05         Author: Paroma Bhattacharya

The grocery company will enhance its online grocery delivery websites & mobile app to benefit shoppers with visual impairments Albertsons Companies LLC, a US-based grocery company recently announced an initiative to enhance its mobile application & online grocery shopping website, in... Read More

© 2019 Fractovia. All Rights Reserved