• by Chuck Martin , July 26, 2018

Ford Motor Company has created Ford Autonomous Vehicles LLC, a new organization to accelerate its autonomous vehicles business.

The new business will include Ford’s self-driving systems integration, autonomous vehicle research, advanced engineering, AV transportation-as-a-service development, user experience, business strategy and business development teams, according to the company.

Ford is planning to invest $4 billion in its autonomous vehicles efforts through 2023 and the new LLC is structured to be able to take on third-part investments.

“Ford has made tremendous progress across the self-driving value chain, from technology development to business model innovation to user experience,” stated Jim Hackett, president and CEO, Ford Motor Company. “Now is the right time to consolidate our autonomous driving platform into one team to best position the business for the opportunities ahead.”

Ford named Sherif Marakby, Ford vice president, autonomous vehicles and electrification, as CEO of the new Ford organization.