Ford Motor Co. said Friday it would invest $1 billion over five years in Argo AI, an artificial intelligence company based in Pittsburgh, aiming at developing a virtual driver system for Ford’s driverless car coming in 2021. Argo AI founders Bryan Salesky, the company’s chief executive, and Peter Rander, chief operating officer, led the self-driving car teams of Alphabet Inc. and Uber, Ford said. “Argo AI’s agility and Ford’s scale uniquely combine the benefits of a technology startup with the experience and discipline of the automaker’s industry-leading autonomous vehicle development program,” Ford said in a statement. Ford last year announced plans to sell driverless cars by 2021 and unveiled partnerships and investments in the arena, as well as buying a San Francisco-based shuttle startup. Shares of Ford rose 3% on Friday.
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From:: Stock Market News