Ford has created a new organization, Ford Autonomous Vehicles LLC. It is charged with accelerating the company’s AV business to capitalize on market opportunities.
Ford Autonomous Vehicles LLC will include Ford’s self-driving systems integration, autonomous vehicle research and advanced engineering, AV transportation-as-a-service network development, user experience, business strategy and business development teams.
The new LLC, which is structured to take on third party investment, will be primarily based at Ford’s Corktown campus in Detroit and will hold Ford’s ownership stake in Argo AI, the company’s Pittsburgh-based partner for self-driving system development. Ford expects to invest $4 billion in its AV efforts through 2023, including its $1 billion investment in Argo AI.
Sherif Marakby, currently Ford vice president, Autonomous Vehicles and Electrification, is appointed CEO of Ford Autonomous Vehicles LLC reporting to a board of directors chaired by Marcy Klevorn, Ford’s executive vice president and president, Mobility.
The closer alignment of the self-driving platform and the mobility solutions teams will allow faster development of businesses that can thrive in the pre- and post-autonomous vehicle worlds