Ford unveiled Thursday a new business unit called Latitude AI, designed to develop automated driving tech for future vehicles. The division will initially focus on a hands-free, eyes-off driver assist system to improve safety and the driver experience. In 2017, Ford injected $1 billion into Argo AI, a self-driving startup, along with Volkswagen , in a move to advance autonomous vehicles and strengthen their leadership in the industry. Initial plans included combining Ford’s virtual driver system team with the robotics talent and expertise of Argo AI to develop and introduce a virtual driver system for Ford’s SAE Level 4 self-driving vehicles by 2021. However, after Argo failed to attract investors over the years and Ford posted a whopping $2.7 billion (pretax) loss on its investment in the third quarter of 2022, Ford said it was abandoning the company. Ford shifted its focus from full self-driving L4 advanced driver assistance systems (ADAS) being developed by Argo AI to internally developing L2 and L3 tech, like Ford’s BlueCruise . CEO Jim Farley said, “There’s a huge opportunity right now for Ford to give time – the most valuable commodity in modern life – back to millions of customers” as he announced […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
