- Ford is investing $1 billion during the
next five years in Argo AI, combining Ford’s autonomous vehicle
development expertise with Argo AI’s robotics experience and
startup speed on artificial intelligence software – all to further
advance autonomous vehicles
- Founded by former Google and Uber
leaders, Argo AI will include roboticists and engineers from inside
and outside of Ford working to develop a new software platform for
Ford’s fully autonomous vehicle coming in 2021; through their
equity participation, Argo AI employees will share in the startup’s
growth
- Investment in Argo AI strengthens
Ford’s leadership in bringing self-driving vehicles to market in
the near term and creates technology that could be licensed to
others in the future
Ford Motor Company (NYSE: F) today announces it is investing $1
billion during the next five years in Argo AI, an artificial
intelligence company, to develop a virtual driver system for the
automaker’s autonomous vehicle coming in 2021 – and for potential
license to other companies.
This Smart News Release features multimedia.
View the full release here:
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Ford is investing $1 billion during the
next five years in Argo AI, combining Ford’s autonomous vehicle
development expertise with Argo AI’s robotics experience and
startup speed on artificial intelligence software – all to further
advance autonomous vehicles. Pictured are: Peter Rander, Argo AI
COO; Mark Fields, Ford president and CEO; Bryan Salesky, Argo AI
CEO; and Raj Nair, Ford executive vice president, Product
Development. Salesky and Rander are alumni of Carnegie Mellon
National Robotics Engineering Center and former leaders on the
self-driving car teams of Google and Uber, respectively. (Photo:
Business Wire)
Founded by former Google and Uber leaders, Argo AI is bringing
together some of the most experienced roboticists and engineers
working in autonomy from inside and outside of Ford. The team of
experts in robotics and artificial intelligence is led by Argo AI
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.
“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,” said Ford President and CEO Mark Fields. “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 current team developing Ford’s virtual driver system – the
machine-learning software that acts as the brain of autonomous
vehicles – will be combined with the robotics talent and expertise
of Argo AI. This innovative partnership will work to deliver the
virtual driver system for Ford’s SAE level 4 self-driving
vehicles.
Ford will continue to lead on development of its purpose-built
autonomous vehicle hardware platform, as well as on systems
integration, manufacturing, exterior and interior design, and
regulatory policy management.
Argo AI will join forces with Ford’s autonomous vehicle software
development effort to strengthen the commercialization of
self-driving vehicles. Argo AI’s agility and Ford’s scale uniquely
combine the benefits of a technology startup with the experience
and discipline of the automaker’s industry-leading autonomous
vehicle development program.
“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,” said Salesky. “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.”
The collaboration supports Ford’s intent to have a fully
autonomous, SAE level 4-capable vehicle for commercial application
in mobility services in 2021.
“Working together with Argo AI gives Ford a distinct competitive
advantage at the intersection of the automotive and technology
industries,” said Raj Nair, Ford executive vice president, Global
Product Development, and chief technical officer. “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.”
Also complementing the relationship will be Ford Smart Mobility
LLC, which will lead on the commercialization strategy for Ford’s
self-driving vehicles. This includes choices for using autonomous
vehicles to move goods and people, such as ride sharing, ride
hailing or package delivery fleets.
Ford will be the majority stakeholder in Argo AI. Importantly,
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. Argo AI’s board will have five members: Nair; John Casesa,
Ford group vice president, Global Strategy; Salesky; Rander; and an
independent director.
The $1 billion investment in Argo AI will be made over five
years and is consistent with the autonomous vehicle capital
allocation plan shared last September as part of Ford Investor
Day.
By the end of this year, Argo AI expects to have more than 200
team members, based in the company’s Pittsburgh headquarters and at
major sites in Southeastern Michigan and the Bay Area of
California.
Argo AI’s initial focus will be to support Ford’s autonomous
vehicle development and production. In the future, Argo AI could
license its technology to other companies and sectors looking for
autonomous capability.
About Ford Motor Company
Ford Motor Company is a global automotive and mobility company
based in Dearborn, Michigan. With about 201,000 employees and 62
plants worldwide, the company’s core business includes designing,
manufacturing, marketing and servicing a full line of Ford cars,
trucks and SUVs, as well as Lincoln luxury vehicles. To expand its
business model, Ford is aggressively pursuing emerging
opportunities with investments in electrification, autonomy and
mobility. Ford provides financial services through Ford Motor
Credit Company. For more information regarding Ford and its
products and services, please visit www.corporate.ford.com.
About Argo AI
Argo AI is an artificial intelligence company, based in
Pittsburgh and established to tackle one of the most challenging
applications in computer science, robotics and artificial
intelligence: self-driving vehicles. With engineering hubs in
Pittsburgh, Southeastern Michigan and the Bay Area of California,
the company plans to have more than 200 employees by the end of
2017. For more information regarding Argo AI and its work, please
visit: www.argo.ai.
Risk factors:
This news release contains forward-looking statements that are
based on Ford’s current expectations for future events. Actual
results could differ materially from those stated because of risks,
uncertainties, and other factors, including lower-than-anticipated
market acceptance of new or existing products or services, or
failure to achieve expected growth; discovery of defects in
vehicles resulting in delays in new model launches, recall
campaigns, or increased warranty costs; increased safety,
emissions, fuel economy, or other regulations resulting in higher
costs, cash expenditures, and/or sales restrictions; and
cybersecurity risks. For additional discussion, see Item 1A in
Ford’s 2016 Form 10-K report.
For news releases, related materials and
high-resolution photos and video, visit www.media.ford.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20170210005537/en/
Ford Motor CompanyAlan Hall734.845.4410ahall32@ford.comorAngie
Kozleski313.218.8203akozlesk@ford.com
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