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BRIEF-Ford invests in Argo AI, a new artificial intelligence company
February 10, 2017 / 7:40 PM / 10 months ago

BRIEF-Ford invests in Argo AI, a new artificial intelligence company

Feb 10 (Reuters) - Ford Motor Co

* Ford invests in argo ai, a new artificial intelligence company, in drive for autonomous vehicle leadership

* Ford motor co says investing $1 billion during next five years in argo ai

* Ford motor co says ford will be majority stakeholder in argo ai

* Ford motor co - in future, argo ai could license its technology to other companies and sectors looking for autonomous capability

* Ford motor - collaboration supports ford’s aim to have fully autonomous, sae level 4-capable vehicle for commercial application in mobility services in 2021

* Is investing in argo ai to develop a virtual driver system for automaker’s autonomous vehicle coming in 2021

* Ford - argo ai’s board will have 5 members: nair; john casesa, ford group vice president, global strategy; salesky; rander; and an independent director

* Ford motor - by end of year, argo ai expects to have more than 200 team members, based in co’s pittsburgh hq, at major sites in southeastern michigan Source text for Eikon: Further company coverage:

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