Ford and independent automotive technology company Argo AI have been collaborating for many years to bring high-performance self-driving cars to Ford. So far, much of that collaboration has been realized through robotic services and, more recently, delivery over the last mile. Now, it looks like Ford is interested in expanding that partnership to focus on mid-mile delivery.
“We are very interested as a company, perhaps with little strategic change, product movement,” said Jim Farley, Ford manager, during a Q1 2022 revenue call on Wednesday. “It fits in with our commercial transportation business, and our customers feel very, very interested in the mid-mile, in particular.”
Farley also noted that Ford is interested in continuing to align with the strategic partners who can bring Argo cases to life by using Ford cars. Argo and Ford are working with Lyft to launch a self-driving car in a high-altitude location in Austin, and the two companies also have Miami as its pilot food delivery program at Walmart in the same cities, with plans to spread to Washington DC afterwards. this year, according to a spokesman for Argo.
As part of Ford + the carmaker’s plan to grow using state-of-the-art technology, such as its FORDLive extension-time system that assists ship management, to improve its commercial productivity. When Ford launched the Ford ProFor the global automotive and automotive distribution business, a year ago, the company said it expects the unit to generate $ 45 billion in revenue from equipment and services near and new by 2025. Independence will not be a mile. Can Ford’s next product be offered to business customers?
One thing is for sure. Ford is not interested in using Argo technology to help maintain its advanced driver assistance system, BlueCruise.
“We really see it, maybe differently, as Level 2 or Level 3 and Level 4, as two different products,” Farley said. “Yes, Argo can help us with our independence. But we feel that this will be a big obstacle for them and we do not want them to be distracted at all.”
Revenue and expenditure for self-development under a separate Motion line on Ford balance sheet, which included micromobility Spin and public transportation software and planning company Transloc, which were sold in Tier and Modaxo in March. , respectively.
The loss of mobility was equal year after year, with fewer quarterly losses. In Q1 2022, Ford reported a net loss of $ 242 million, down from Q4 2021 a loss of $ 342 million, possibly due to Ford’s special interest in the two businesses we mentioned above. Revenue in the first quarter increased compared to the same quarter as $ 84 million compared to $ 11 million in 2021.
While Ford is funding its power-generating campaign mostly through the sale of an internal combustion engine, Farley reiterated that the carmaker is open to external funding for independent efforts. This could be a sign that Ford’s “strategic shift” in the mid-mile is not far from ongoing independence efforts, but rather.
“It will take time, and this is an expensive thing,” he said. “So from our point of view, access to capital markets is very important to give us the flexibility to continue investing in this for many years to come.”