Ford Motor Co. partners with ride-sharing service Lyft to roll out robotaxi service in two cities.

Ford posts third-quarter loss as self-driving vehicle startup backed shutters

Ford Motor Co. reported a loss of $827 million in the third quarter, driven by costs associated with the shutdown of an autonomous vehicle technology company that Blue Oval has backed as a major investor.

In confirming the decision to shut down Pennsylvania-based Argo AI, founded by two Michigan natives in 2017 with a $1 billion investment from automaker Dearborn, Ford executives acknowledged the challenges of developing advanced AI systems. level 4 fully autonomous driving aids with human observations. — and said it would likely take at least five more years and require billions more in investment in Argo.

The automaker initially said it plans to have ADAS Level 4 technology commercially available by 2021. they’re in their vehicles,” CEO Jim Farley said in a statement. “It is essential for Ford to develop high-performance and differentiated L2+ and L3 applications which, at the same time, make transport even safer.”

“We are optimistic about the future of L4 ADAS,” he added, “but large-scale, cost-effective, fully autonomous vehicles are still a long way off, and we won’t necessarily have to create this technology ourselves. .”

Ford Motor Co. partners with ride-sharing service Lyft to roll out robotaxi service in two cities.

The effective dissolution of Argo amid tougher economic conditions and the global auto industry’s pivot towards electrification shows how unpredictable the advance of next-generation technology is proving – and how Things from less than five years ago are proving to be less unpredictable as automakers focus more intently on providing partial self-driving solutions to customers.

Doug Field, a former Apple Inc. and Tesla Inc. engineer who now leads advanced technologies and embedded systems at Ford, said the work Argo was doing was “what I consider the technical problem the most most difficult of our time. It’s harder than putting a man on the moon to create an L4 robotaxi that can operate in a dense urban environment, safely, and navigate to its destination.”

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