- Ford and ADT launch Canopy to provide AI-powered connected
security cameras and a corresponding mobile app for a variety of
vehicle makes and models
- Offerings will integrate the Safe by ADT platform to provide
professional monitoring and help businesses protect valuable work
equipment in vehicles and individual owners strengthen security
inside and outside vehicles
- Canopy will build and sell its first product and subscription
service early next year to protect cargo areas of high-volume
commercial trucks and vans in the U.S. and U.K.
- Canopy was incubated by Ford’s New Business Platform team and
plans to begin integrating its security solution with on-board
vehicle cameras in Ford vehicles next year
- Canopy expects to expand offering to other manufacturers over
time
Ford (NYSE: F) and ADT Inc. (NYSE: ADT) will invest in a new
joint venture called Canopy that combines ADT’s professional
security monitoring and Ford’s AI-driven video camera technology to
help customers strengthen security of new and existing vehicles
across automotive brands.
“The combination of our technologies and our deep security
experience creates a new category of protection for work and
personal vehicles,” said Elliot Cohen, ADT chief business
development officer. “Vehicles represent the second-most-valuable
asset for consumers, and helping to protect them extends ADT’s
safe, smart, and sustainable solutions far beyond the home.”
Canopy plans to launch industry-first, multi-sensor security
systems with available professional monitoring early next year. The
first products to be manufactured and sold will be available in the
U.S. and the U.K. for the industry’s highest-volume commercial and
retail pickups and vans – including the Ford F-150, F-150
Lightning, Transit vans and E-Transit – and will be easily
installable by customers to protect expensive work and recreational
equipment.
“Thieves have been even more active during the pandemic and know
business owners store valuable equipment in vehicles, often hauling
more than $50,000 of gear. Canopy is here for those who’ve had
enough of thefts that threaten their livelihoods,” said Franck
Louis-Victor, vice president, Ford New Business Platform. “Key to
Ford’s software-led transformation are new ideas such as Canopy and
collaborating with other innovators such as ADT, which brings to
vehicle security their leadership protecting families, homes, and
businesses.”
The FBI estimates1 that stolen work equipment cost more than
$7.4 billion in 2020 in the U.S., and theft of valuable work
equipment is believed to be underestimated in stolen vehicle
reports. Small business owners face even greater opportunity costs
with the deferral or loss of jobs while replacing stolen items.
Canopy also plans to begin integrating camera security solutions
in Ford vehicles next year for seamless protection inside and
outside vehicles. Canopy will seek factory-vehicle integrations
with other automakers over time.
Starting a Vehicle Security Revolution
Canopy’s first smart vehicle security system accessory offering
will make use of acoustic sensors for vans, onboard cameras, radar,
LTE, and GPS. The initial product will have a camera that can be
mounted in either a van’s cargo area or on a pickup facing the bed.
The platform will use AI technology to identify and report credible
threats while reducing false alarm signals.
- Customers will be connected to the system via the Canopy app to
livestream video from the vehicle, get notified of suspicious
activity, or review past events.
- The system will trigger a smartphone alert of any indicators of
potential criminal activity, such as breaking glass, metal cutting,
or suspicious motion or sound near the vehicle.
- Customers can warn potential thieves they are being monitored
by speaking through the smartphone app, enabled by a two-way audio
feature that will be available by next year.
- The system’s AI is designed to distinguish true threats from
benign acts – such as a cat jumping into a pickup bed or
construction sounds near a vehicle – before alerting the owner or
ADT monitoring agents of potential theft.
- The system will alert ADT monitoring professionals if it
detects a person loitering around or breaching the vehicle.2
ADT monitoring agents can then contact customers, fleet
managers, or police to take additional measures to help prevent
theft. Credible threats will trigger additional responses,
including audible alerts and programmable voice recordings and
two-way audio in future updates.
The first-of-its-kind Canopy products will be sold through
vehicle dealerships, major retailers, and online. Ford Pro will be
an important launch partner delivering these solutions to
commercial and government customers of all sizes, helping drive
business forward and accelerate productivity at a global scale.
“Commercial customers around the world are laser focused on
protecting investments from costly replacements that can impact
their bottom lines,” said Ted Cannis, CEO, Ford Pro. “Canopy will
help Ford Pro deliver another service to fleets helping to improve
total cost of ownership by staying productive and avoiding downtime
associated with stolen tools and damaged vehicles – including the
majority with mixed fleets since Canopy technology will be
available across brands.”
More Innovation to Come
The Canopy team has been developing and testing its first
technologies for two years as part of Ford’s New Business Platform
innovation incubation group. They will now be headquartered in
Detroit and London and led by Interim CEO Christian Moran.
Canopy also will seek relationships with other automotive,
insurance, and technology companies to expand offerings, explore
insurance benefits for use of the technology, and co-create new
innovations.
Ford and ADT’s investment in Canopy is subject to certain
conditions, including regulatory approvals, and initial funding is
expected to close in the second quarter of 2022. The partners
expect to invest approximately $100 million during the next three
years.
For more information, visit www.canopy.security
Forward-Looking Statements
ADT has made statements in this press release that are
“forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act of 1995 and are made in reliance
on the safe harbor protections provided thereunder. These
forward-looking statements relate to our joint venture with Ford,
its anticipated impact on our business and cash flows, our
anticipated plans and strategies, our anticipated demand for smart
vehicle security systems, our ability to expand our offerings both
within and outside of the United States, and our ability to
continually innovate to create new demand and satisfy the needs of
consumers. Forward-looking statements can often be identified by
the use of words like “will,” “plans,” “intends,” “anticipates,”
and similar words and are based on currently available information
and management’s current beliefs and assumptions. ADT cautions that
these statements are subject to risks and uncertainties, many of
which are outside of ADT’s control, and could cause future events
or results to be materially different from those stated or implied
in this press release, including among others, risks and
uncertainties relating to the launch of a new joint venture, risks
and uncertainties in developing and innovating smart vehicle
security systems and products, risks and uncertainties in operating
in markets outside of the United States, and risk factors that are
described in the Company’s Annual Report on Form 10-K and Quarterly
Reports on Form 10-Q, including the sections entitled “Risk
Factors” and “Management’s Discussion and Analysis of Financial
Condition and Results of Operations” contained therein. Any
forward-looking statement made in this press release speaks only as
of the date on which it is made. ADT undertakes no obligation to
publicly update or revise any forward-looking statement, whether as
a result of new information, future developments or otherwise.
About Ford Motor Company
Ford Motor Company (NYSE: F) is a global company based in
Dearborn, Michigan, that is committed to helping build a better
world, where every person is free to move and pursue their dreams.
The company’s Ford+ plan for growth and value creation combines
existing strengths, new capabilities, and always-on relationships
with customers to enrich experiences for and deepen the loyalty of
those customers. Ford designs, manufactures, markets and services a
full line of connected, increasingly electrified passenger and
commercial vehicles: Ford trucks, utility vehicles, vans and cars,
and Lincoln luxury vehicles. The company is pursuing leadership
positions in electrification, connected vehicle services and
mobility solutions, including self-driving technology, and provides
financial services through Ford Motor Credit Company. Ford employs
about 186,000 people worldwide. More information about the company,
its products and Ford Motor Credit Company is available at
corporate.ford.com.
About ADT
ADT provides safe, smart and sustainable solutions for people,
homes and businesses. Through innovative products, partnerships and
the largest network of smart home security professionals in the
United States, we empower people to protect and connect what
matters most. For more information, visit www.adt.com.
1 U.S. Department of Justice, Federal Bureau of Investigation,
Uniform Crime Report. 2 Requires subscription to ADT professional
monitoring tier.
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version on businesswire.com: https://www.businesswire.com/news/home/20220118005866/en/
Ford Communications Wes Sherwood wsherwoo@ford.com
313-573-3530
ADT Communications Paul Wiseman paulwiseman@adt.com
561-356-6388
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