Ford Makes Large Investment in CMU alumni Founded Startup Argo AI
Ford Motor Company has made an investment of $1
billion on the so-far unknown startup Argo AI, in a bid to lead the market on
autonomous vehicles. The company was
founded by Bryan Salesky, company CEO, and Peter Rander, company COO, both
Carnegie Mellon University’s National Robotics Engineering Center alumni and
former leaders on the self-driving car teams of Google and Uber, respectively.
According to the statement on Ford’s website,
the “investment in Argo AI strengthens Ford’s leadership in bringing
self-driving vehicles to market in the near term and creates technology that
could be licensed to others in the future”.
With an investment of this size, Ford, the
American multinational automaker headquartered in Michigan, effectively bought
Pittsburgh-based Argo AI, by acquiring majority of capital. This move by Ford
comes after GM had also bought a similar startup, Cruise, in 2016, for the
The startup is bringing
together some of the most experienced roboticists and engineers working in
autonomy from inside and outside of Ford. Argo AI will operate as an
independent subsidiary and will focus on developing a software platform for
Ford's self-driving car, which the company is targeting for 2021.
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Magazine Online, Automonitor
Sobre Rodas - AutoNews Online, Velocidades
Online (February 13, 2017) Carros
& Motores Online, CA
Noticias Online, and PME
Magazine - Portugal. Mundo. Empresas Online (February 14, 2017).