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Tag Archives: Argo AI
Ford Motor Posts Q3 Net Loss of $827 Million
During Q3, Ford decided to shift its capital spending from the L4 advanced driver assistance systems being developed by Argo AI to internally developed L2+/L3 technology. The move was forced on Ford when Argo AI failed to attract new investors. Ford recorded a $2.7 billion non-cash, pretax impairment on its investment in Argo AI, resulting in an $827 million net loss for Q3. Adjusted earnings before interest and taxes were $1.8 billion, higher than the $1.4 billion to $1.7 billion the company estimated in September. Quarterly revenue was $39.4 billion, up 10% from a year ago. Continue reading
Posted in financial results, news analysis, results
Tagged Argo AI, auto industry commentary, autoinformed.com, Ken Zino
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Ford, Argo AI, Walmart to Launch Autonomous Vehicle Delivery
The deal blends a self-driving technology provider with an automotive manufacturer able to integrate that technology with mass-produced vehicles and the world’s largest retailer. The multi-city service will enable Walmart customers to place orders of groceries and other popular items online for door-to-door autonomous delivery directly to customers’ homes. Continue reading
Posted in autonomous vehicles
Tagged Argo AI, auto industry commentary, autoinformed.com, Autonomous Delivery, Ford, Ken Zino, Walmart
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Hyundai-Aptiv Startup Motional Expands on West Coast
This move comes as Motional accelerates towards mass commercialization, which includes a landmark agreement with Lyft to launch a multimarket fully driverless service starting in 2023. Motional claims to be one of the world’s key AV players. “We’ve had a presence in Los Angeles for more than five years and are now increasing our investment in California with a new operations facility and road testing in the Los Angeles area, a new San Francisco Bay Area office, and extensive hiring that will more than double the size of our California team,” Motional said in a release. Continue reading
Argo AI, Ford to Launch Self-Driving Vehicles on Lyft Network
Argo AI and Ford will deploy Ford self-driving cars, with safety drivers, on the Lyft network, as part of a network access agreement, with passenger rides beginning in Miami later this year and in Austin starting in 2022. As vehicles are positioned, Lyft users within the defined service areas will be able to select a Ford self-driving vehicle to hail a ride. “This initial deployment phase will lay the groundwork for scaling operations, as the parties are now working to finalize agreements aiming to deploy at least 1,000 autonomous vehicles on the Lyft network, across multiple markets over the next five years,” the companies claimed. Continue reading
Volkswagen, Argo AI to Start Autonomous Driving Tests
Current conventional automaker wisdom (wishdom?) has is that light commercial vehicles are the first, logical place for using autonomous transportation of people and goods. “Our aim with the self-driving version of the ID. BUZZ is to ease commercial deployment of transport and delivery services starting in 2025,” said divisional director Christian Senger during a digital press conference. VW Mobility service provider MOIA will first launch autonomous service in Hamburg, Germany. Continue reading
Ford Motor Q2- Sales Drop -53%. Debt Grows $10B
Analysts, a mysterious species to AutoInformed were surprised and delighted. AutoInformed noted an ongoing warranty cost disaster, which is a management failure not a Covid issue. It remains troubling as Ford is introducing increasingly complex vehicles. Continue reading
Posted in economy, financial results, news analysis, results
Tagged Argo AI, auto industry commentary, autoinformed, autoinformed.com, Ford Motor Earnings, Ken Zino
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Milestones: Volkswagen Completes Promised Argo AI Funding
The numerous problems confronting Ford Motor and Volkswagen AG revolve around a central issue: Whether the two global giants and hundreds of thousands of workers can work together or consume shareholder capital at astonishing, company threatening rates without producing the promise efficiencies – on time and on budget. Continue reading
Ford Places $1B Bet in Argo AI on Autonomous Vehicles
The very small Argo AI team of specialists in robotics and artificial intelligence is led by founders Bryan Salesky, CEO, and Peter Rander, COO. Both are alumni of Carnegie Mellon National Robotics Engineering Center and former heads of the self-driving car teams of Google and Uber, respectively. Continue reading
Ford Motor Establishes Latitude AI for Autonomous Driving
Ford Motor Company said today that it has established Latitude AI, a wholly owned subsidiary, develop “a hands-free, eyes-off-the-road automated driving system.” The move follows in the wake of a $2 billion loss posted for 2022, partially the result of a Q3 2022 decision that saw Ford shift its capital spending from the L4 advanced driver assistance systems being developed by Argo AI to internally developed L2+/L3 technology. Continue reading →