Argo AI, Lyft, and Ford are collaborating to commercialize autonomous ride-hailing on a large scale. The groundbreaking partnership brings together all of the components needed to launch a successful autonomous ride-hailing service, including the self-driving technology, vehicle fleet, and transportation network needed to sustain a scalable company and provide an excellent rider experience.
Future Plan
In Miami, self-driving trips with safety drivers will debut this year. The firms said they intend to expand to Austin, Texas, in 2022 and deploy 1,000 self-driving cars across different regions in the next five years.
“This collaboration marks the first time all the pieces of the autonomous vehicle puzzle have come together this way,“ Lyft co-founder and CEO Logan Green said. “Each company brings the scale, knowledge, and capability in their area of expertise that is necessary to make autonomous ride-hailing a business reality.”
Deal
Lyft will acquire a 2.5 percent interest in Argo as part of the agreement, which has garnered $3.6 billion in funding from Ford and Volkswagen Group. Lyft isn’t investing money, but it is giving Argo access to fleet and safety data that will help the company develop a clear road plan for launching a large-scale autonomous taxi service.
As an estimate, the collaboration will boost Argo’s worth to $12.4 billion, up from a prior value of just over $7 billion.
How they start
The self-driving taxi service will launch in Miami and Austin with fewer than 100 self-driving hybrid Ford Escape crossovers, each accompanied by two human minders: a backup driver behind the wheel who is ready to take over if necessary, as well as a worker who monitors the technology driving the operation.
The driverless vehicles will not be limited to pre-approved routes, and customers will be able to select an autonomous vehicle via the Lyft app on their phone at no additional cost.
Ford has developed a strong presence in Miami, Austin, and Washington, D.C. to enable self-driving car deployments at scale. This includes operations that support commercial fleets, such as fuelling, service, and cleaning, all of which contribute to a positive client experience. Ford has also built significant community ties, including working directly with local officials to deliver important transportation solutions tailored to their specific requirements.
About Ford Motor Company
Ford Motor Company is a worldwide corporation headquartered in Dearborn, Michigan, dedicated to assisting in the creation of a better world in which everyone is free to move and achieve their goals. The Ford+ strategy for development and value creation blends current strengths, new capabilities, and always-on customer interactions to enhance customer experiences and deepen loyalty.
About Argo AI
Argo AI, based in Pittsburgh, Pennsylvania, is a global autonomous car technology platform company. In collaboration with top manufacturers such as Ford Motor Company and Volkswagen Group, the company is developing self-driving technology to make traveling about cities safe, easy, and pleasant for everyone.
About Lyft
Lyft is one of the major transportation networks in the United States and Canada, having been launched in 2012. Lyft is at the forefront of a huge social transition away from vehicle ownership and toward transportation-as-a-service. Their mobility network combines ride-sharing, bikes, scooters, auto rentals, and public transportation into a single app.