Ford expands its mobility empire with a couple of acquisitions
Ford Motor Company announced today that it was acquiring two transportation software companies, Autonomic and TransLoc. It also announced it would be reorganizing its mobility subsidiary in a bid to accelerate the delivery of new products, like microtransit services and self-driving cars. The news comes as the automaker’s stocks remained stagnant despite a raft of high-profile announcements during CES and the Detroit Auto Show about its investment in mobility services and electric cars.
Ford didn’t disclose the sum of the acquisitions, but did say the two startups would help develop the automaker’s forthcoming Transportation Mobility Cloud, an open-sourced platform for cities and other transportation partners. Ford said it would expand...