Ford Motor Company intends to invest $1 billion into tech startup Argo AI over the next five years, giving the Blue Oval a majority stake in the company as it continues to reach for the goal of producing a fully autonomous vehicle by 2021.
The Pittsburgh-based Argo will help the Detroit automaker develop a “virtual driver system” for its proposed commercial ride-sharing fleets before moving on to retail vehicles. Ford even went so far as to suggest that the software it develops with Argo could be licensed to other companies.
While still officially an automaker, the Blue Oval really is going all in on its new identity as a mobility company and it isn’t afraid to remind everyone of all of the important work it feels that it is doing. (Read More…)
Ford Motor Co. has hired former Apple marketing guru Musa Tariq as part of its expanding need to make the case that it is a mobility company not simply an automaker. Taking the newly created position of vice president and chief brand officer, Tariq will help construct and differentiate the brand identify Ford is hoping to carefully curate for itself.
Cars were for your grandfather’s generation. We now have mobility solutions. (Read More…)
Ford has long been at the forefront of the currency debate, claiming currency manipulation when the yen went to levels that nearly killed the Japanese auto industry, and shouting “currency manipulation” now that the yen is back to normal levels. Now, Ford itself experiences the devastating effects of changing exchange rates: Ford is shutting down all its manufacturing operations in Australia. The reason: A strong Australian dollar. Says Reuters: (Read More…)