Ford’s new AV Unit, including Argo AI, opens door to all kinds of investors

Wednesday, July 25, 2018

Jeremy Garvey, a member in the firm’s Corporate Practice Group, is quoted in an article in the Pittsburgh Business Times on Ford Motor Company’s self-driving business, Ford Autonomous Vehicles, LLC, and the auto company’s stake in Argo AI, LLC, a Pittsburgh-based partner for self-driving system development. Ford expects to invest $4 billion in its autonomous vehicle efforts, including $1 billion in Argo AI over the next five years, and has structured Ford Autonomous Vehicles to take on third-party investments.

“If you are taking on a third-party investment, it means you think that’s the best avenue to have progress going forward,” Jeremy said. “Automation is a big problem, and its transportation, not just cars, so it’s trucking, rail, potentially flight. For someone like Ford who’s smart and thoughtful, they have to be thinking it’s worth bringing in other folks who have a different view of the world.”

To read the full article, click here (subscription required).

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Jeremiah G. Garvey

Co-Chair, Capital Markets & Securities

(412) 620-6570


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