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13

Ford to Invest $1 Billion in Artificial Intelligence Start-Up

By Tony Seruga

An employee at a Ford plant in Louisville, Ky. Ford sees “mobility services” as potentially more profitable than its traditional business of making and selling cars. CreditLuke Sharrett/Bloomberg

SAN FRANCISCO — One of the oldest automakers in the United States is making a billion-dollar bet that one day, owning a car may not be a necessity of American life.

Ford Motor announced on Friday its plans to invest $1 billion over the next five years in Argo AI, an artificial intelligence start-up formed in December that is focused on developing autonomous vehicle technology.

The move is Ford’s biggest effort to move into self-driving car research. Argo AI will develop the technology exclusively for Ford at first, and then plans to license its technology to others…

Ford to Invest $1 Billion in Artificial Intelligence Start-Up

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