Ford Announces $1 Billion Investment Into Artificial Intelligence Startup

Ford has announced that it will invest $1 billion over the next five years into Argo AI, an artificial intelligence company founded by former leaders from Google and Uber’s respective self-driving teams.

The American automaker says that its team currently developing virtual driver systems will be combined with the roboticists and engineers from Argo AI to develop Ford’s level 4 self-driving vehicles, the first of which will launch in 2021.

As part of the deal, Ford will become the majority stakeholder in Argo AI with a new board of directors to be established with Ford’s Raj Nair, Ford’s group vice president of Global Strategy John Casesa, Argo AI founders Bryan Salesky and Peter Rander as well as an independent director.

Speaking of the deal, Ford president and chief executive Mark Fields said “The next decade will be defined by the automation of the automobile, and autonomous vehicles will have as significant an impact on society as Ford’s moving assembly line did 100 years ago.

“As Ford expands to be an auto and a mobility company, we believe that investing in Argo AI will create significant value for our shareholders by strengthening Ford’s leadership in bringing self-driving vehicles to market in the near term and by creating technology that could be licensed to others in the future,” he said.

Argo AI says that by the end of this year, it expects to have over 200 members on its team.

VIDEO

Things To Do In Denver When You’re Drunk: Let A 15-Foot Snake Slither Out Of Your Car

This firefighters who came upon this strange incident by chance probably had the scare of their life until they contained it.

Hennessey Gives Chevy Silverado Extra Pair Of Wheels, Calls It The Goliath 6×6

Based on the Trail Boss Z71, it can be upgraded to 705 HP and starts at $375,000, donor truck included.

Uber Driver Gets Mistaken For Getaway Driver, Gets Arrested, Then Released

The Uber driver gave a ride to a man who had just robbed a gas station with a pair of scissors.

Prancing Horse Invites The Public To Maranello With Universo Ferrari Event

The Universo Ferrari event will allow visitors to see the company’s best road and race cars of all time.

2020 Mercedes-AMG GLC 43 4Matic Launches With 385 HP

The new 2020 Mercedes-AMG GLC 43 4Matic features a twin-turbo 3.0-liter V6.

2020 Cadillac CT5 Costs Nearly $10,000 Less Than The CTS

Tired of fighting the Germans head-on, Cadillac’s CT5 looks like a bargain.

Tuned BMW 640i Doesn’t Give A Hoot About The New 840i

Senner has made this 640i Convertible more powerful than its 8-Series counterpart.

Continental Says Fully Autonomous Cars May Not Arrive Before 2030

Tech needs to be improved, regulation put in place and the public must trust them – and that will take time.

New Lotus Sports Car Coming Late Next Year, Will Be Launched In 2021

The upcoming model could be a replacement for the Elise, Exige or Evora.

Alpina Once Considered Making A High-End Mini

Alpina couldn’t justify the complexity and cost involved in making its own version of the Mini.