Jim Farley, the CEO of Ford, confirmed the news in a tweet thread today. He also said that both Ford and Volkswagen will absorb some former Argo AI employees into its respective teams.
SlashGear/TwitterAccording to Ford, Argo AI was not able to attract very many new customers to make the investment worthwhile, and the goals of actual self-driving cars are too lofty for now to fully invest in. Ford initially wanted level four autonomous vehicles in 2021. “But things have changed,” Farley added in the earnings report, “and there’s a huge opportunity right now for Ford to give time – the most valuable commodity in modern life – back to millions of customers while they’re in their vehicles.”
Continuing on, he said: “It’s mission-critical for Ford to develop great and differentiated L2+ and L3 applications that at the same time make transportation even safer. We’re optimistic about a future for L4 ADAS, but profitable, fully autonomous vehicles at scale are a long way off and we won’t necessarily have to create that technology ourselves.”
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