So another cash drain that will meet the same fate as ARGO. I mean people, time to leave this company as there is going to be no company left after hurricane Bill and hurricane Jim are done with the destruction.
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Of course they need AI. How else are they going to enact their new customer car repo program when they miss a payment, those cars aren't going to drive themselves to the impound lot. Oh wait, I guess they will now...
This is a good move by leadership. We absolutely need to have equity in this space to support Model e future products. This is a great way to achieve that.
Ford pulls plug on Argo AI saying AVs are decades away.
Tesla doubles down on Autopilot.
Ford says "Oh wait, us too! Again."
Losing strategy from a losing company.
Having spent my 40 year career always near the bleeding edge of technology one realizes
that most of the experts opining and hyping a specific technology are doing so solely because their exorbitant income depends upon it. The game is always to hype up a technology until you find a buyer, cash in your chips and move to the next technology.
Ford repeatedly gets suckered in, buys a tech startup, then realizes they got suckered but has to keep up the hype while attempting to find another su---r to sell to.
Meanwhile news @ 5 Farley claims AV just around the corner and its gonna be amazing.
If the public can’t trust us to build Ford vehicles correctly, how will they ever trust us to drive for them.
This is the most ridiculous strategy ever concocted by Ford. This will be Farley’s last mistake before he is tossed to the curb.
Not mentioned here, but in this Techcrunch article, is Ford’s expensive flip-flopping on AV: https://techcrunch.com/2023/03/02/ford-forms-automated
Argo AI burst on the scene in 2017 stacked with a $1 billion investment from Ford — and Iater an investment from VW. The startup shuttered suddenly in October 2022 after Ford and VW determined they would no longer pursue AV technology, at least not under the Argo umbrella. Ford said, at the time, it was making a strategic decision to shift its resources to developing advanced driver assistance systems, and not autonomous vehicle technology that can be applied to robotaxis. The company said it recorded a $2.7 billion non-cash, pretax impairment on its investment in Argo AI.
Ford hores 550 Argo AI engineers - creates latitude.ai
https://media.ford.com/content/fordmedia/fna/us/en/news/2023/03/02/ford-establishes-latitude-ai-to-develop-future-automated-driving.html
LOL what a freaking joke, first Fields and Hackett were convinced Level 4 AV was the only way to go, now its 2-3 and Doug and Jim have no idea how to bring it to market any time soon. Consumer confidence is all time low, Kia's, Hyundai's, GM, Tesla's and Toyota's are leading. Sammy is laughing to the bank just like Salensky.
More BS and smokescreens for hiding, siphoning and draining money just like Argo, Chariot, SPIN, etc etc etc.......
Remember, Peps are coming as well as more separations - don't let the hype distract anyone from Farley's greed and purpose in reducing headcount in NA.