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Ford Plans To Release Fully Autonomous Vehicles For Ride Sharing In 5 Years

Ford Plans To Release Fully Autonomous Vehicles For Ride Sharing In 5 Years

Close on the heels of investing in Velodyne, Ford Motor Company (NYSE: F) disclosed its intention to produce a high-volume, fully autonomous SAE level 4-capable vehicle. The company is planning to make this commercial operation happen in 2021 either in a ride-hailing or ride-sharing service.

As part of the plan to achieve its goal, Ford is investing or aligning with four startups to improve its autonomous vehicle development. The automaker plans to double its team in Silicon Valley and more than double its Palo Alto campus.

Related Link: The Autonomous Car Market Is A $270 Billion Opportunity For Apple, Tesla and Google

President and CEO Mark Fields said, "The next decade will be defined by automation of the automobile, and we see autonomous vehicles as having as significant an impact on society as Ford's moving assembly line did 100 years ago. We're dedicated to putting on the road an autonomous vehicle that can improve safety and solve social and environmental challenges for millions of people – not just those who can afford luxury vehicles."

The second-biggest American automaker said it would triple its autonomous vehicle test fleet in 2016 to be the biggest test fleet of any automaker. That will bring the number to about 30 self-driving Fusion Hybrid sedans on the roads in different States. This would triple again next year.

The stock traded down by $0.08, or 0.64 percent, to $12.35.


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