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Last year, Ford announced that it would invest a billion dollars in Argo AI. This startup, founded by ex-Google and Uber collaborators, develops artificial intelligence for autonomous cars.
In addition to this investment, spread over five years, Ford is now ready to go add three billion dollars. This money will not only be injected into Argo AI, but will also be used to consolidate all of Ford's autonomous car business. Until now, they were still scattered throughout the various research and product development departments. The new division, to be called 'Ford Autonomous Vehicles LLC', will be housed in Detroit and will be managed by Sherif Marakby .
The decision to consolidate all these activities and inject four billions of dollars in the next five years, indicates that Ford has pbaded the cautious exploration phase of the beginning and is evolving into a firm that now wants to fully bet on autonomous cars.
"Ford has made tremendous progress in autonomous driving – from the development of technology and the renewal of our business models to the user experience, "states Jim Hackett Ford CEO 'ad. "This is a good time to consolidate all these activities into a single entity that should put our company in pole position to seize future opportunities."
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