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Wednesday, July 24, 2019
Notations From the Grid (Mid-Week Edition): On the Future of Transportation
Progress continues on Transportation.
Please note this courtesy of the Team at Goldman Sachs:
Talks at GS with Ford CEO Jim Hackett
Above (L to R): David Solomon of Goldman Sachs and Jim Hackett of Ford
Leading the Ford Motor Company during a time of tremendous change in the auto industry, CEO Jim Hackett views autonomous technology as a force "that will change our lives as much as anything in history," he told Goldman Sachs Chairman and CEO David Solomon during a recent episode of Talks at GS. "Autonomy is by far one of the biggest things and the system that supports it...is $11 trillion, inclusive of the autonomy...This is why all the tech companies are interested in this -- because it's bigger than computing was as it was starting." To that end, Hackett pointed to Ford's recent announcement that it is expanding its global alliance with Volkswagen to include autonomous technology and electric vehicles. "I think this is seminal in that the platform of vehicles that VW and Ford control will be close to 18 million in today's sales, 18 million vehicles," Hackett said, noting that the partnership allows the two companies to maintain separate businesses, while investing together in technology that can be implemented across both companies. "A corollary would be when the Android was being built -- they had to fight their way to get that platform to the cell, smartphone people. We took a page out of that and said, 'We don't want to invest $10 billion in autonomy and only have our vehicles as the receivers of that.'"