Ford spins its self-driving business into a $4bn separate company
Automotive giant Ford has decided its self-driving efforts are important enough to warrant a separate company with $4 billion of investment.
Ford Autonomous Vehicles LLC will be based in Detroit, Michigan and will be tasked with developing the company’s self-driving technology.
Jim Hackett, President and CEO of Ford, explained the decision:
“Ford has made tremendous progress across the self-driving value chain – from technology development to business model innovation to user experience.