Ford Announces Major Investment in Autonomous Driving Technology
Ford Announces Major Investment in Autonomous Driving Technology
Ford Motor Company has reaffirmed its commitment to autonomous vehicle (AV) innovation with a substantial investment aimed at advancing self-driving technologies. This initiative underscores Ford's strategic focus on enhancing its capabilities in the autonomous driving sector.
In 2017, Ford announced a $1 billion investment over five years in Argo AI, an artificial intelligence startup specializing in autonomous driving software. This collaboration aimed to develop a virtual driver system for Ford's planned autonomous vehicle, targeting deployment in 2021. However, in 2022, Ford decided to wind down its investment in Argo AI, taking a $2.7 billion accounting charge and shifting focus to internally developed advanced driver-assistance systems (ADAS). Reddit+4GovTech+4Ford Media Center+4Wikipedia+2Ford Media Center+2Wikipedia+2Wikipedia
Despite the challenges faced with Argo AI, Ford continues to invest in autonomous driving technologies. The company has allocated approximately $7 billion over a ten-year period through 2025 to develop self-driving capabilities, with $5 billion of that investment occurring from 2021 onward. This funding supports Ford's efforts to enhance its BlueCruise hands-free driving system and other ADAS features, aiming to provide Level 2 and Level 3 autonomy in its vehicles.Reuters+1Ford Media Center+1Reddit
Ford's CEO, Jim Farley, has indicated that the company's new self-driving technology will be capable of operating at speeds up to 80 miles per hour, surpassing some competitors' systems. The company is focusing on delivering unsupervised highway driving capabilities, recognizing the value and utility such features offer to consumers.Reddit+1Barron's+1
In addition to internal development, Ford is exploring partnerships to bolster its autonomous driving initiatives. While no formal agreements have been announced, the company has expressed interest in collaborating with other firms to accelerate the deployment of self-driving technologies. Barron's
Ford's ongoing investment in autonomous driving technology reflects its dedication to innovation and its vision for the future of mobility. By focusing on both internal development and potential partnerships, Ford aims to remain at the forefront of the evolving automotive landscape.