Ford spins its self-driving business into a $4bn separate company

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Automotive giant Ford has decided its self-driving efforts are important enough to warrant a separate company with $4 billion of investment.

Ford Autonomous Vehicles LLC will be based in Detroit, Michigan and will be tasked with developing the company’s self-driving technology.

Jim Hackett, President and CEO of Ford, explained the decision:

“Ford has made tremendous progress across the self-driving value chain – from technology development to business model innovation to user experience.

Now is the right time to consolidate our autonomous driving platform into one team to best position the business for the opportunities ahead.”

With car ownership set to

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