Ford Commits $4 Billion To New Subsidiary For Autonomous Vehicles
Ford Commits $4 Billion To New Subsidiary For Autonomous Vehicles
Following the lead of Competitor General Motors, Ford recently announced that they are dedicating $4 billion into manufacturing their own self-driving cars.
As with GM, the announcement spiked Ford's stock by 2.4 percent to $10.72 the day of the announcement. The new subsidiary called Ford Autonomous Vehicles LLC will be spearheaded by Ford's VP Sherif Marakby at their new campus in Corktown, Detroit. Marakby had previously headed Uber's autonomous vehicle division before returning to Ford in 2017.
With an estimated manufacture date of 2020, we may be seeing Ford's commercial service vehicles as soon as 2021.
Other auto manufacturers have expressed interest in establishing a self-driving division for their vehicles, and love or hate the idea, it's apparent that the technology will only continue forward.
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Written By: Todd Hendrickson
Source: Routers, Venture Beat
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