SAN FRANCISCO Feb 10 Ford Motor Co plans
to invest $1 billion over the next five years in tech startup
Argo AI with the target of developing an autonomous vehicle for
production by 2021, the companies announced at a press
conference on Friday.
The investment in Pittsburg-based Argo AI, which was founded
by former executives in charge of self-driving teams at Google
and Uber, will make Ford the company's
largest shareholder. Ford Chief Executive Mark Fields said the
investment is in line with previous announcements on planned
Once the technology is fully developed for Ford, both
companies said, it could be licensed to other companies.
(Reporting By Nick Carey; Editing by Tom Brown)