Ford Motor Company has established Latitude AI, a wholly owned subsidiary focused on developing a hands-free, eyes-off-the-road automated driving system for millions of vehicles. 

According to a recent article on Yahoo Finance, Ford Motor Company has announced the establishment of Latitude AI, a new subsidiary focused on developing autonomous vehicle technology. The company plans to invest $200 million in the subsidiary over the next five years.

Latitude AI will be responsible for developing advanced driver assistance systems (ADAS) and other autonomous vehicle technologies. The company will be led by Ford’s Chief Technology Officer, Ken Washington, and will be based in Silicon Valley.

In a statement, Washington said that “the formation of Latitude AI reflects Ford’s commitment to develop and deploy advanced autonomous vehicle technologies that are safe, reliable, and affordable.” He added that “by combining our expertise in AI, robotics, and electrification, we will be able to deliver innovative solutions that will help transform the transportation industry.”

The establishment of Latitude AI is part of Ford’s broader strategy to become a leader in autonomous vehicle technology. The company has been investing heavily in the development of self-driving cars and recently announced plans to launch an autonomous ride-hailing service in 2022.

Ford is not the only automaker investing in autonomous vehicle technology. Competitors such as General Motors, Tesla, and Waymo are also developing self-driving cars, and the market for autonomous vehicle technology is expected to grow rapidly in the coming years.

Despite the potential benefits of autonomous vehicles, there are also concerns about their safety and the impact they could have on employment. Ford has said that it is committed to ensuring that its autonomous vehicles are safe and reliable and that it is working to mitigate any potential negative impact on jobs.

Via The Impactlab