Ford Motor Company has announced the launch of its new automated driving unit, Ford Autonomous Vehicles LLC (FAV). The company is investing $4 billion in this venture over the next five years and plans to hire 2,500 employees. This move comes just months after it wound down its self-driving car division Argo AI.
The new FAV will be based in Detroit and will focus on developing autonomous vehicle technology for commercial applications such as delivery services and ride hailing. It will also develop software that can be used by automakers around the world to power their own driverless vehicles.
Ford CEO Jim Hackett said that “the future of transportation relies on self-driving technology” and that his company was committed to making sure it stayed at the forefront of this revolution. He added that with FAV they were creating a business model which would allow them to capitalize on their investments while still providing customers with safe, reliable mobility solutions.
The automaker has already made significant progress in its development of autonomous vehicle technology through partnerships with companies like Volkswagen AG, Baidu Inc., Aurora Innovation Inc., Mobileye N V, Velodyne Lidar Inc., SAIPS Ltd., Civil Maps LLC and others. These collaborations have enabled Ford to gain access to cutting edge technologies which are essential for building successful driverless cars.
In addition to these partnerships, Ford is also working closely with universities across North America including Carnegie Mellon University’s Robotics Institute where researchers are helping develop algorithms for autonomous navigation systems as well as machine learning techniques for object recognition tasks such as lane detection or pedestrian avoidance maneuvers.
This announcement marks an important milestone in Ford’s journey towards becoming a leader in automated driving technology; one which could potentially revolutionize how people get from point A to point B safely and efficiently without having any direct control over their vehicles themselves – something many experts believe is inevitable within the next decade or so given current trends in technological advancement . With FAV now up and running alongside other initiatives such as Smart Mobility LLC – a subsidiary dedicated solely towards researching emerging transportation trends – it appears clear that Ford intends not only stay ahead of the curve but also become one of its main drivers when it comes time for society at large make use of these revolutionary advancements .
As part of this effort , Ford recently announced plans invest $1 billion into electric vehicle startup Rivian Automotive , further cementing itself among industry leaders who recognize both potential economic benefits associated with transitioning away from traditional combustion engines well environmental ones too . In doing so , they join ranks companies like Amazon General Motors Co Tesla Motors Inc all whom have invested heavily into similar ventures recent years .
It seems clear then that despite winding down Argo AI earlier year , Ford remains firmly committed advancing state art when comes automated driving technologies . By leveraging existing relationships universities research institutions along strategic investments startups alike , company looks poised continue leading charge long way come .