Durham’s TransLoc acquired by Ford Motor Company subsidiary
Posted on by Jessica Harington
Ford is also creating a new Mobility Platforms and Products sub-group, which will focus on stuff like managing vehicle fleets as a service, the AV partnership platform that counts companies including Lyft, Domino’s, and Postmates as members, and its forthcoming Transportation Mobility Cloud platform.
“Between the acquisition of Autonomic and TransLoc, plus the organizational changes, this is an acceleration of the mobility strategy here at Ford,” explained Neil Schloss, Ford’s CFO of Ford Mobility in an interview.
Ford is acquiring Autonomic and TransLoc, two of its partners, in deals that will help its new mobility business take shape. The acquisitions follow Ford’sannouncement at CES earlier this month that it would be working with Silicon Valley-based Autonomic, a transportation architecture and technology provider, on its forthcoming Transportation Mobility Cloud open platform for cities and transportation partners.
“The businesses that are in [the Mobility Business Group] today, and I think you’ll see the digital service piece, those are businesses that are in development today, but clearly businesses that we believe we can scale, and that have a real demand need for them,” Schloss explained. “And then the third piece is the stuff that will come out of Ford X.”
“Ford X is going to be given a little bit of money, a little bit of people, and a very short timeframe to go in individual groups, have ideas and incubate them,” Schloss said. “I expect the majority of them get killed, but the gems will come out, and once we’ve proven that they’re a real business with customer need, and they generate a successful return on what investment that will be required, then they move into the Mobility Business Group to be scaled.”