Ford confirms $4bn investments in autonomous vehicles by 2023

By Sean Galea-Pace
Share
Detroit-based automaker, Ford Motor, has confirmed that its autonomous vehicle development is expected to rise to $4bn through to 2023, Automotive News...

Detroit-based automaker, Ford Motor, has confirmed that its autonomous vehicle development is expected to rise to $4bn through to 2023, Automotive News Europe reports.

The vehicle manufacturer has formed a subsidiary, Ford Autonomous Vehicles, which will focus on the development of the vehicles.

Ford 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."

See more:

The subsidiary will be headed up by Ford vice president, Sherif Marakby, formerly responsible for Uber’s autonomous vehicle developments, before joining Ford for a second spell last year.

The research will take place at Ford’s new Corktown facility in Detroit where the firm hopes to encourage business opportunities with the implementation of the new base.

$1bn of the $4bn that will be spent by 2023 on AV will include the figure that Ford has committed to investing in Pittsburgh startup, Argo AI, a partner in self-driving system improvement.

Share

Featured Articles

SAVE THE DATE – Manufacturing & Mobility LIVE Chicago 2025

Manufacturing Digital announces its first dedicated Manufacturing & Mobility LIVE Event in Chicago on 4 and 5 June 2025

Sandvik Coromant: How to Survive AI and Thrive

Identifying the trends and impacts of AI on manufacturing, Sandvik's whitepaper argues that AI is here to stay and shares how manufacturers can adapt

Shiseido & Accenture: AI-the Best Skincare Solution?

As the beauty industry grows ultra competitive, Shiseido has partnered with Accenture to set themselves apart from the competition through Industry 4.0

Assembling the Future: Huawei's New Smart Factory Offerings

Smart Manufacturing

Tata & Analog Devices Drive Indian Electronics Manufacturing

Technology

UK Manufacturing Day: The Experts Weigh In

Production & Operations