Local News

Ford Invests $1B In Robotics Startup In Driverless Car Quest

/ CBS Detroit

SAN FRANCISCO (AP) - Ford Motor Co. will spend $1 billion to take over a robotics startup to acquire more of the expertise needed to reach its ambitious goal of having a fully driverless vehicle on the road by 2021.

The big bet announced Friday comes just a few months after the Pittsburgh startup, Argo AI, was created by two alumni of Carnegie Mellon University's robotics program, Bryan Salesky and Peter Rander.

Ford is counting on Salesky and Rander to hire about 200 employees during the next year while overseeing the development of the technology required for a vehicle without a steering wheel or brake pedals to drive itself.

Ford CEO Mark Fields wants the robotic car done by 2021.

The $1 billion investment in Argo will be spread over a five-year period.

© Copyright 2017 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.

First published on February 10, 2017 / 2:49 PM EST

© 2017 CBS Broadcasting Inc. All Rights Reserved.

Read more
f

We and our partners use cookies to understand how you use our site, improve your experience and serve you personalized content and advertising. Read about how we use cookies in our cookie policy and how you can control them by clicking Manage Settings. By continuing to use this site, you accept these cookies.