Forget legacy factories and ageing infrastructure, Ford is focusing on new technology campuses and artificial intelligence to support their growth ambitions. This announcement of a $1bn investment over the next five years brings Ford on track with their rivals, many of whom have set aside similar budgets as the race hots up to gain ground in the autonomous vehicle sector. The licensing angle is an interesting one to drive additional revenues and gain a return on their investment.
SAN FRANCISCO -- One of the oldest automakers in the United States is making a billion-dollar bet that one day, owning a car may not be a necessity of American life. Ford Motor announced on Friday its plans to invest $1 billion over the next five years in Argo AI, an artificial intelligence start-up formed in December that is focused on developing autonomous vehicle technology. The move is Ford's biggest effort to move into self-driving car research. Argo AI will develop the technology exclusively for Ford at first, and then plans to license its technology to others.