Home Business Ford Invests $1bn Argo AI To Develop Autonomous Vehicles

Ford Invests $1bn Argo AI To Develop Autonomous Vehicles

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Ford is investing usd $1bn in Argo AI, over the next five years to help startup achieve its goal to deliver a fully autonomous vehicle by 2021. Argo AI was founded last by Bryan Salesky and Peter Rander who previously worked at Google and Uber respectively on the self-driving vehicle projects.”We know rapidly evolving technologies and fierce competition require us to remain flexible and open to new ways of strengthening our team,” Ford’s president and CEO Mark Fields.
Last year, rival General Motors shelled out $1bn to acquire self-driving startup Cruise Automation and invested $500m in Lyft. Meanwhile, Uber is testing out its self-driving software in a $300m partnership with Volvo that was announced in August 2016.
With big companies taking a keen interest no doubt autonomous is the next stage in the evolution of transport. While self driving vehicles raise issues of safety and job loss, it has the potential to disrupt the transport industry even here in Caricom.

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