Banking And InsuranceCryptocurrencyDigital MarketingErpFood And BeveragesHealthcareLegalMarketing And AdvertisingMedia And EntertainmentMetals And MiningOil And GasRetailTelecom
Artificial IntelligenceBig DataCloudCyber SecurityE CommerceEducationGaming And VfxIT ServiceMobileNetworkingSAPScience And TechnologySecuritySoftwareStorage
CiscoDatabaseGoogleIBMJuniperM2MMicrosoftOracleRed Hat
CEO ReviewCompany Review

The Silicon Review Asia

Ford commits $4 billion to develop autonomous vehicles

Ford commits $4 billion to develop autonomous vehicles

It seems that people can’t get by a single month without hearing some news or the other about autonomous cars. Recently, the American automotive giant Ford has committed a significant sum of money to gain an edge over other competitors. It plans to pump in a cool $4 billion in a newly conceived LLC that is completely focused on developing Ford’s autonomous vehicles division.

The Ford Autonomous Vehicles LLC will house Ford’s entire autonomous vehicles division as well as its research and development center and business strategy teams. The $4 billion investment also includes Ford’s $1 billion investment in Argo AI, the start-up launched by former Google employee and its self-driving cars stalwart Bryan Salesky and the former engineering lead at Uber Advanced Technologies Group Peter Rander. The investment was first announced in early 2017. Additionally, the new LLC will be based out of Ford’s campus in Detroit. Moreover, Ford Autonomous Vehicles LLC will also hold Ford’s investment in Argo AI.

Previously, all of Ford’s efforts towards autonomous vehicles were scattered throughout the organization and this new LLC suggests Ford’s focus on the consolidation of all the efforts towards the development and deployment of its self-driving cars. “Now is the right time to consolidate our autonomous driving platform into one team to best position the business for the opportunities ahead,” said Jim Hackett, the CEO of Ford.       


Pine Labs Reaffirms its Commitment to Indian Payments Space with Qfix Acquisition

HDFC Bank is Qfix's main distribution partner Pine Labs has announced that it has acquired Qfix, a Mumbai-based online payments startup. This acquisi...

Salesforce Expands into Thailand, Opens Office in Bangkok

Salesforce has announced permanent presence in Thailand by launching its new office in the country’s capital, Bangkok. The permanent presence wi...

GMLL is expected to soon add two more stores to its retail arm ‘Price Mantra’

Garment Mantra Lifestyle, a popular name in the Indian fashion retail segment, recently made an announcement that the company is expanding its retail ...

Tariff plans will cost higher from the next financial year as telecom companies are gearing up to increase rates

The ongoing Covid pandemic had significantly increased the number of mobile and internet users worldwide. The high amount of usage is expected to drop...