How many of their permanently laid off employees can be absorbed by Ford? This is going to hurt Q4…
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@1oep This was not Moonbeam’s decision, this went back to Mark Fields after the failed Google bid. When the Google deal fell through that should of been a sign. FCA paired up with Google Waymo and from what I can tell got f’all nothing. So they haphazardly threw this Argo thing together (kind of like the movie about the CIA fake movie production to free Iranian hostages), it was all fake. Amazed Bob Shanks green lit this. https://www.latimes.com/business/autos/la-fi-hy-ford-ai-deal-driverless-20170210-story.html Even Raj “enjoyer of interns” Nair is in the photo op.
This is just an example of the Ford repeating bad management decision. One management develops his (no her yet) own agenda. The following managements undo the carryover.
The next item to undo is the software, data and subscription.
Remember this was created on Professor Moonbeam's watch not JF's. JF also canned Tim Stone on his first day of reign so maybe he's smarter than we think. He's doing some much needed house cleaning, like dumping South America after decades of losing money.
In the first 30 days I was with the AV organization nearly 4 years ago I saw it to be the stinking pile of joke it was. Not only myself but also BF's daughter Alexandra saw it for what itcwas and ran for the hills and abandoned the mini Titanic. So now here we are in 2022 we are finally shutting down Argo. Talk about incompetent leadership when a GSR can see this coming in 30 days and leadership takes 4-5 years.
@iwq+1jo4kyud hi Dougie! You can fool BFJ, but you can't fool us!
Model e can bankrupt the company quickly
Hopefully the projects of Argo can get absorbed into Model e and continue to be fully developed. They will fit in well with the Model e organization and leadership. Plus down the road, autonomous mobility will be a significant piece of Ford's business model.
This company is a joke. Just like their football team.
Ford name = losing
Saw this coming from miles away…. 3 billion dollars invested and nothing to show for it. This is a massive setback.
Autonomous is a losers game
This opens the door for an AV FSS, which will be said to generate sky high billions. Great job.
“Mobility” lost another few billion, with this accomplishment:
“Launched pilot program In San Diego allowing qualified Uber drivers to digitally reserve and secure flexible leases for Mustang Mach-Es”
I’ve been in lots of Ubers, mostly with other people, only a lone rider might want a Mach-E
How many Billions were wasted on this? Hopefully the accounting for the former asset wasn’t inflated, this won’t be good for 2022 financials.