Ford Motor Company has announced plans to invest $4 billion in the next five years to develop autonomous car technology. The investment includes $2 billion on artificial intelligence (AI), machine learning, and data science; $1 billion for electric vehicle development and battery technology; and another $1 billion into its factory operations so that it can increase production of self-driving vehicles. Ford plans to bring Level 4 self-driving cars to market by 2021, but hasn’t provided details yet about how much these vehicles will cost or when they’ll be available for purchase.
Ford to Invest $4 Billion in Autonomous Vehicle Tech Over The Next Five Years
Ford announced plans to invest $4 billion in autonomous vehicle technology over the next five years. The company wants to make self-driving cars available to everyone, so it’s investing heavily in making this tech accessible.
Ford plans to spend $2 billion on artificial intelligence (AI), machine learning, and data science technologies that will help build out its autonomous vehicle system. AI can improve decision making by using historical data from real-world driving conditions as well as simulations of those conditions–for example, if you were driving down a highway at 75 MPH but had no other cars around you could adjust your speed accordingly because you know what would happen if there were other vehicles around you at that speed limit.
Ford plans to spend $2
billion on AI, machine learning, and data science
Ford isn’t the only company investing in AI and machine learning. Google, for example, has spent billions of dollars on these technologies over the past few years. And while it hasn’t released any numbers on how much it’s spent specifically on self-driving cars, its parent company Alphabet reported $7 billion in research and development expenses last year alone–an increase from $6 billion in 2015 and $5 billion in 2014.
Ford says its investment is part of a broader strategy to make autonomous vehicles more accessible to consumers by 2020 (which is when it plans to launch its first fully autonomous vehicle). The automaker also plans on leveraging its expertise with machine learning algorithms through partnerships with other companies like Lyft and Domino’s Pizza that could help further develop these systems over time
The company will invest $1 billion in its electric vehicle business
Ford has announced that it will invest $1 billion in its electric vehicle business over the next five years. The company plans to launch 16 new models by 2022, and it’s already started with an all-new version of its Focus sedan that will be available in North America later this year.
Ford said it wants 40 percent of its global sales volume by 2023 to come from electrified vehicles–either plug-in hybrids or battery-powered cars–up from about 6 percent now. Ford CEO Jim Hackett said at CES 2018 that he wants his company’s electric offerings to be accessible for everyone: “We’re going after high volume products,” he said during an interview with CNBC Tuesday night (January 9).
Ford has not set a specific timeline for when autonomous cars will be available to consumers.
Ford has not set a specific timeline for when autonomous cars will be available to consumers. The company is working with other companies to bring this technology to market and developing the software needed for autonomous vehicles.
Ford is investing heavily in self-driving car technology in the hopes that it can make this technology widely available.
Ford is investing heavily in self-driving car technology, and they’re hoping to make this technology widely available. Ford has not set a specific timeline for when autonomous cars will be available to consumers, but they expect them to be on the road by 2021.
Ford is investing heavily in self-driving car technology in the hopes that it can make this technology widely available. The company has not set a specific timeline for when autonomous cars will be available to consumers, but it plans on spending $4 billion over five years on research and development for these vehicles.