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Ford bets $4 billion on its self-driving future


Ford announced yesterday that it’s spinning off its self-driving efforts into a standalone company in the US: Ford Autonomous Vehicles LLC. The new firm will be tasked with overseeing development of self-driving tech in Detroit, Michigan, as well as running a network of autonomous vehicles once it launches in 2021. It’ll be supported by a total of $4 billion in funding over the next five years, which includes $1 billion that Ford is investing in Argo AI, a self-driving tech company based in Pittsburgh. That should give Ford a chance to compete against the numerous other companies – including tech…

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