Ford has committed to invest $1 billion over the next five years in robotics/artificial intelligence start-up, Argo AI.
The partnership with the tech firm, which was founded by former Google and Uber leaders, will develop a new software platform for Ford’s fully autonomous vehicle by 2021.It is hoped that the project will create technology that could be licensed to others in the future.
Argo AI is overseen by founders Bryan Salesky, company CEO, and Peter Rander, company COO. Both are alumni of Carnegie Mellon National Robotics Engineering Center and former leaders on the self-driving car teams of Google and Uber, respectively.Ford will be the majority stakeholder in Argo AI. Argo AI has been structured to operate with substantial independence. Its employees will have significant equity participation in the company, enabling them to share in its success.
Ford President and CEO Mark Fields, commented on the project: “The next decade will be defined by the automation of the automobile, and autonomous vehicles will have as significant an impact on society as Ford’s moving assembly line did 100 years ago. As Ford expands to be an auto and a mobility company, we believe that investing in Argo AI will create significant value for our shareholders by strengthening Ford’s leadership in bringing self-driving vehicles to market in the near term and by creating technology that could be licensed to others in the future.”
The partnership will take the form of Ford’s in-house team developing a virtual driver system, combining with the robotics expertise of Argo AI. The aim is deliver the virtual driver system for Ford’s SAE level 4 self-driving vehicles.
Bryan Salesky, Argo AI CEO commented: “We are at an inflection point in using artificial intelligence in a wide range of applications, and the successful deployment of self-driving cars will fundamentally change how people and goods move. We are energized by Ford’s commitment and vision for the future of mobility, and we believe this partnership will enable self-driving cars to be commercialized and deployed at scale to extend affordable mobility to all.”
Raj Nair, Ford executive vice president, Global Product Development, and chief technical officer commented: “Working together with Argo AI gives Ford a distinct competitive advantage at the intersection of the automotive and technology industries. This open collaboration is unlike any other partnership – allowing us to benefit from combining the speed of a startup with Ford’s strengths in scaling technology, systems integration and vehicle design.”
Leave A Comment