Ford is consolidating all of its AV operations in the newly created Ford Autonomous Vehicles LLC from 1 August, to advance AV technology and related technologies.
Current autonomous vehicles and electrification VP Sherif Marakby will be the CEO and Marcy Klevorn, Ford’s executive VP and president of mobility, will be chairman of the board.
The new division is charged with accelerating the auto maker’s AV business to capitalise on market opportunities. This includes the integration of self-driving systems, AV research and engineering, transportation-as-a-service network development, user experience, business strategy and business development. Teams previously involved with these areas now fall under Ford Autonomous Vehicles.
Ford Autonomous Vehicles is structured to take on third-party investment and will be mainly based at Ford’s Corktown campus in Detroit, Michigan. It will also hold Ford’s ownership stake in Argo AI, the company’s Pittsburgh-based partner for self-driving system development. Ford expects to invest US$4bn in its AV efforts through 2023, including its US$1bn investment in Argo AI.
“Ford has made tremendous progress across the self-driving value chain from technology development to business model innovation to user experience,” said Jim Hackett, president and CEO of Ford Motor Company. “Now is the right time to consolidate our autonomous driving platform into one team to best position the business for the opportunities ahead.”
By Illya Verpraet