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Ford announces $4 billion investment in autonomous vehicle venture

US News - Wed, 08/01/2018 - 03:57
Ford announces $4 billion investment in autonomous vehicle venture

In a move which will enable US automaker Ford to gain a competitive edge in the newly emerging mobility industry, the automaker has recently launched a new autonomous vehicle subsidiary called Ford Autonomous Vehicles LLC.

The launch of the new subsidiary will apparently give Ford the ability to emerge as a potential leader in electrified, autonomous ride services. The move underscores the automaker’s change over to a new business model, after its emphasis chiefly on trucks and SUVs, as compared to passenger cars, in the recent times.

In announcing its new Ford Autonomous Vehicles LLC subsidiary to achieve its targeted 2021 launch of a self-driving car network, Ford said that it is investing $4 billion in the new unit which will oversee all its AV research. The mentioned investment will include an amount of $1 billion earmarked for Argo AI.

According to the details shared by Ford, the company’s Ford Autonomous Vehicles LLC subsidiary will have several employee teams dedicated to AV research and advanced engineering as well as self-driving systems integration, AV transportation-as-a-service network development, business strategy, user experience, and business development.

The new Ford subsidiary -- which will allow the automaker to capitalize on new market opportunities and speed up its AV business -- will be spearheaded by its CEO Sherif Marakby, who is presently Ford’s Vice President of Autonomous Vehicles and Electrification.

Business: Auto SectorCompanies: Ford MotorRegion: DetroitGeneral: FeaturedTNM
Categories: US News

SsangYong announces new vehicles plan for next five years

New Zealand News - Wed, 08/01/2018 - 03:55
SsangYong announces new vehicles plan for next five years

During a recent presentation to Australian journalists in South Korea, automaker SsangYong shared some pertinent information about its plans for the vehicles it intends to launch in the period between 2019 and 2024.

The presentation by Ssang Yong has come a few months ahead of the brand’s scheduled relaunch in South Korea in November 2018. Earlier this decade, the Ssang Yong fell into receivership and faced bankruptcy, but Indian giant Mahindra saved the company by purchasing it.

In its recently-held presentation, the Ssang Yong told Australian journalists that it plans to launch two new-generation SUV models as well as an MPV product in the mentioned time period. In addition, the automaker also revealed that it has efforts underway to also launch an electric-powered crossover and dual-cab ute (or pick-up).

The disclosure by SsangYong implies that the company may possibly be the first automaker to bring a battery-powered dual-cab ute to the market.

According to the details revealed by Ssang Yong, the company’s dual-cab ute will be a Musso-sized electric vehicle which is presently in an “advanced work for 2024” stage. About the electric ute, Dan RIM -- Executive Director of Exports at Ssang Yong -- said: “We’re still developing this concept [but] I think we’re launching around 2023, it’s changing but it depends on the different country’s regulations.”

Business: Auto SectorCompanies: Ssangyong MotorsRegion: AustraliaGeneral: TNMFeatured

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