Ford Motor Company has announced the creation of Ford Autonomous Vehicles LLC to further their development of self-driving car technology. Over the next 5 years, the automaker plans to invest 4 billion dollars in autonomous vehicle technology.
The autonomous vehicle division will be based in Ford’s Corktown campus, a 110-year-old historic brick building and former factory in Detroit, MI, and include research and engineering, user experience, business strategy and development, and self-driving systems integration. Ford’s current head of Autonomous Vehicles and Electrification, Sherif Marakby, will lead the newly created division.
“Ford has made tremendous progress across the self driving value chain – from technology development to business model innovation to user experience,” said Ford president and CEO Jim Hacket. “Now is the right time to consolidate our autonomous driving platform into one team to best position the business for the opportunities ahead.”