In order to develop autonomous driving technology further, Ford invested in startup. Image source: Shutterstock (#272866295)
On Friday Ford Motor announced its plans to invest 1 billion USD in an artificial intelligence start-up, Argo AI, that is focused on developing autonomous vehicle technology. The start-up will develop the technology only for Ford at first and then license its technology to others. Argo AI will operate as a subsidiary. Ford will be the majority shareholder. The start-up company will use its shares to lure robotics and engineering professionals from other companies. Frome Google and Uber self-driving technologists are already working for Argo AI. The acquisition is part of Ford’s broader strategy of entering the market for autonomous mobility. Throughout the last year Ford acquired several companies such as “Chariot”, a transportation start-up, and invested in “Civil Maps” which develops 3D mapping technology that can be used by self-driving cars. In August, Ford also acquired “SAIPS” an Israeli company developing machine learning and computer-vision technology.
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