Ford's decision to cancel plans to build a new factory in Mexico was widely interpreted in Mexico as the result of Donald Trump's repeated criticism of the $1.6bn project. PHOTO: AFP
Ford will take a majority stake in Argo AI, an artificial intelligence company based in Pittsburgh, started in late 2016 by former Google and Uber employees who had worked on autonomous driving.
The venture will employ leading engineers and “roboticists” to develop a “virtual driver” system, described by Ford officials as the “brain” of an autonomous vehicle.
The set-up is intended to give Ford a head start on competitors in the race to commercialise autonomous vehicles, said Ford executive vice president Raj Nair.
“This is really unique in the industry,” Nair said on a conference call with analysts.
It will have the “speed and nimbleness of a start-up, but also integrated into a full production development team.”
Nair said research towards full autonomy has moved “beyond the research phase,” but there remains the need for a “tremendous leap” between the driver-assist technologies now available and full autonomy.
Argo AI employees will have a minority equity stake in the venture. The structure is intended to lure top engineers to the venture, Ford executives said.
Published in The Express Tribune, February 12th, 2017.
Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.
1713853507-0/MalalaHilary-(2)1713853507-0-270x192.webp)
COMMENTS
Comments are moderated and generally will be posted if they are on-topic and not abusive.
For more information, please see our Comments FAQ