News > Capital Markets, FinTech

Ford Spins Off Autonomous Vehicle Company, Plans $4B Investment

By BenZinga
Capital Markets, FinTech

Ford Motor Company (NYSE: F) is spinning off a separate company to accelerate its self-driving vehicle business, improve related operational fitness and drive profitable growth.

What Happened

Ford Autonomous Vehicles LLC will soon manage a five-year, $4-billion investment in AVs with a focus on self-driving systems integration, transportation-as-a-service development, fleet management, user experience and business strategy.

“The closer alignment of the self-driving platform and the mobility solutions teams will allow faster development of businesses that can thrive in the pre- and post-autonomous …

Read the full story at Benzinga.

Photo: Ford Motor Co.

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