The investment in Pittsburg-based Argo AI, founded by former executives on self-driving teams at Google and Uber , will make Ford the company's largest shareholder. Ford chief executive officer Mark Fields said the investment is in line with previous announcements on planned capital expenditures. Argo AI, which focuses on artificial intelligence and robotics, will help build what Ford calls its "virtual driver system" at the heart of the fully autonomous car Ford said last year it would develop by 2021. Once the technology is fully developed for Ford, it could be licensed to other companies, executives said. While Ford will retain a majority of the start-up's equity, the potential for an equity stake as Argo AI hires 200 more employees will be an advantage in recruiting talent, executives said.

Source: CBC News February 10, 2017 20:26 UTC