Ford forms new subsidiary and commits $4 billion to self-driving cars

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(Reuters) — Ford said on Tuesday it was creating a separate $4 billion unit to house its self-driving vehicle operations and is seeking outside investors, following a similar move in late May by Detroit rival General Motors with its Cruise Automation unit. GM’s spinoff of Cruise drew a $2.25-billion investment from SoftBank Group, boost…Read More

from VentureBeat http://bit.ly/2LM8FD3