Ford is making four key investments and collaborations in order to bring their goal to fruition. From the press release:
- Velodyne: Ford has invested in Velodyne, the Silicon Valley-based leader in light detection and ranging (LiDAR) sensors. The aim is to quickly mass-produce a more affordable automotive LiDAR sensor. Ford has a longstanding relationship with Velodyne, and was among the first to use LiDAR for both high-resolution mapping and autonomous driving beginning more than 10 years ago
- SAIPS: Ford has acquired the Israel-based computer vision and machine learning company to further strengthen its expertise in artificial intelligence and enhance computer vision. SAIPS has developed algorithmic solutions in image and video processing, deep learning, signal processing and classification. This expertise will help Ford autonomous vehicles learn and adapt to the surroundings of their environment
- Nirenberg Neuroscience LLC: Ford has an exclusive licensing agreement with Nirenberg Neuroscience, a machine vision company founded by neuroscientist Dr. Sheila Nirenberg, who cracked the neural code the eye uses to transmit visual information to the brain. This has led to a powerful machine vision platform for performing navigation, object recognition, facial recognition and other functions, with many potential applications. For example, it is already being applied by Dr. Nirenberg to develop a device for restoring sight to patients with degenerative diseases of the retina. Ford’s partnership with Nirenberg Neuroscience will help bring humanlike intelligence to the machine learning modules of its autonomous vehicle virtual driver system
- Civil Maps: Ford has invested in Berkeley, California-based Civil Maps to further develop high-resolution 3D mapping capabilities. Civil Maps has pioneered an innovative 3D mapping technique that is scalable and more efficient than existing processes. This provides Ford another way to develop high-resolution 3D maps of autonomous vehicle environments
The driverless vehicles are aimed at providing ride sharing capabilities at a commercial level.
Ford today announces its intent to have a high-volume, fully autonomous SAE level 4-capable vehicle in commercial operation in 2021 in a ride-hailing or ride-sharing service.
“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,” said Mark Fields, Ford president and CEO. “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.”
Autonomous vehicles in 2021 are part of Ford Smart Mobility, the company’s plan to be a leader in autonomous vehicles, as well as in connectivity, mobility, the customer experience, and data and analytics.
The announcement comes on the heels of last month’s awful earnings report, in which Ford missed analyst estimates and declined to provide future guidance. As a result of that report, short sellers have been circling the company hoping to profit from further declines.
Ford shares fell $0.08 (-0.64%) to $12.35 in Tuesday afternoon trading. F stock has plunged more than 12% since the start of 2016.