Ford commits $4bn to autonomous vehicles, forms new subsidiary

Detroit, Michigan — Ford Motor Co. is planning to invest up to $4 billion (€3.4 billion) on autonomous-vehicle (AV) development through 2023, a portion of which will be used to start up Ford Autonomous Vehicles LLC, a subsidiary devoted to those efforts.

The new subsidiary will be based primarily at the campus Ford is creating in Detroit’s Corktown neighbourhood and will be led by Sherif Marakby, a Ford vice president who spent a year heading Uber Technologies Inc.’s autonomous-vehicle program before rejoining Ford in 2017.

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