Ford has pumped $1 billion into Argo AI, a machine learning startup that’s going to work exclusively for the automaker on autonomous vehicle AI. This investment is part of Ford’s larger push to offer an initial self-driving car by 2021.
Argo AI is now going to be treated as a subsidiary of Ford, though it’ll retain a lot of independence with its operations. This investment enables the startup to hire top-tier individuals to help it create software for autonomous vehicles.
For accounting purposes, Argo AI will be a subsidiary of Ford, but have a lot of independence. Its sole focus over the next five years will be developing self-driving software for Ford vehicles.
– Mark Fields, CEO, Ford