Can Ford Turn Itself In To A Tech Company?
Car companies have largely followed the same formula for the past one hundred years. Build a better vehicle than your competitors and manufacture it in the most efficient way. Then, market the vehicle to the largest audience possible which the company believes will buy their product. But now, motor companies are beginning to shift towards technology creation instead of just physical vehicles. One such company beginning to invest heavily in technology is the Ford Motor Company. Ford is investing in, but not exclusively, the following technologies:
- Self Driving Vehicles
- Electric Vehicles
- Compete With Silicon Valley
Self Driving Vehicles
Ford is heavily investing in self driving vehicles which would allow vehicles to autonomously transport people from one location to another. There are many technological challenges associated with this such as its ability to avoid objects in poor weather conditions.
Electric vehicles have numerous benefits such as zero emissions and a much longer lifetime than traditional fossil fuel powered vehicles. This is why Ford again sees such potential in cracking this technological code.
Compete With Silicon Valley
Ford is currently investing in its own hub of technology research and development in the suburbs of Detroit. This will allow them to directly compete with companies based out of Silicon Valley for technological dominance.
As the automobile sector continues to evolve over time we will undoubtedly see many other companies such as Ford to invest more heavily in not just their vehicles but also their technology.