The global pandemic is taking its toll on the development
of self-driving vehicles.
Ford is now pushing the launch of its self-driving services to 2022, the company said Tuesday in its quarterly earnings report.
“Given the challenges of
the current business environment, as well as the need to evaluate the long-term impact of COVID-19 on customer behaviors, Ford made the decision to shift the launch of its self-driving services to
2022,” Ford said in a statement.
This follows a massive investment in the development of autonomous vehicles.
Ford invested $1 billion into Argi.ai to build self-driving car
technology.
Last year, Volkswagen AG agreed to invest $2.6 billion in Ford’s autonomous-vehicle partner, Argo.ai, valuing the startup at $7 billion.
Ford yesterday reported a net
loss of $2 billion in the first quarter
The company’s earnings report said the quarterly loss in mobility was expected, “as Ford continues to invest in growth from related
services, as well as in autonomous vehicles and the underlying business model.”
The COVID-19 pandemic is impacting the autonomous vehicle marketplace all around.
For example,
self-driving vehicle tests around the country have been temporarily suspended.
General Motors recently shut its Maven car-sharing service and Starsky Robotics shut down after raising more than
$20 million to develop driverless trucks.
The road ahead is getting tougher.