• About
  • Privacy & Policy
  • Contact Us
Procurement Nation
  • Home
  • Procurement
    • Shipping
    • Best Procurement Software
    • Supply Chain
      • What is supply chain management?
      • Tyson Foods Food Supply Chain
  • Markets
  • Banking
  • Contact Us
  • Cryptocurrency
No Result
View All Result
  • Home
  • Procurement
    • Shipping
    • Best Procurement Software
    • Supply Chain
      • What is supply chain management?
      • Tyson Foods Food Supply Chain
  • Markets
  • Banking
  • Contact Us
  • Cryptocurrency
No Result
View All Result
Procurement Nation
No Result
View All Result

Ford Motor, ADT form joint venture to market in-vehicle security systems

Mark White by Mark White
January 18, 2022
in Cargo
0
Ford poaches Apple’s car project chief Doug Field

The Ford logo is seen at the North American International Auto Show in Detroit, Michigan, U.S., January 15, 2019. REUTERS/Brendan McDermid/File Photo

Register now for FREE unlimited access to Reuters.com

Jan 18 (Reuters) – Ford Motor Co (F.N) and ADT Inc (ADT.N) have launched a $105 million joint venture, Canopy, to develop and market in-vehicle security systems for commercial and retail customers, the companies said on Tuesday.

The first standalone systems, due in about 12 months, will employ video cameras to monitor vehicles and equipment stowed in them. Customers will be able to live-stream video via a mobile app.

Designed for self-installation in a variety of vehicle makes and models, the systems will be available for purchase from Ford dealers and other retail and online outlets. ADT will provide monitoring services, for a monthly subscription fee.

Register now for FREE unlimited access to Reuters.com

Canopy has not disclosed prices or fees.

Eventually, Canopy plans to develop original-equipment systems that will be installed at the factory, according to Christian Moran, interim chief executive of the joint venture, which will be headquartered in Detroit and London.

Ford’s investment in Canopy is about $63 million, or 60%, and ADT’s is about $42 million or 40%.

Ford will be the first to offer the vehicle security systems to existing customers, but Canopy expects to approach other vehicle manufacturers, as well as insurance and technology companies.

The vehicle security systems will bundle acoustic sensors and radar with Ford’s AI-driven camera technology in a package about the size of a dash cam. The device can be mounted in a pickup bed or van cargo area.

With the automaker’s Ford Pro commercial services unit as a launch partner, Canopy aims to sell its first systems and subscription service early next year to owners of commercial trucks and vans in the United States and the UK, including Ford’s F-150 and F-150 Lightning pickups and Transit and E-Transit vans.

Register now for FREE unlimited access to Reuters.com

Reporting by Paul Lienert in Detroit
Editing by Matthew Lewis

Our Standards: The Thomson Reuters Trust Principles.

Source link

Previous Post

Public health experts say vaccine equity a must to end pandemic

Next Post

UK’s Together Energy Retail becomes latest supplier to cease trading

Mark White

Mark White

Next Post
Nikkei nears 4-week low on tepid Wall Street, Omicron impact

UK's Together Energy Retail becomes latest supplier to cease trading

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected test

  • 111 Followers
  • 65.3k Followers
  • 168k Subscribers
  • 23.5k Followers
  • 99 Subscribers
Plugin Install : Widget Tab Post needs JNews - View Counter to be installed
  • Trending
  • Comments
  • Latest
The main 10 absolute best extravagance SUVs on sale

The main 10 absolute best extravagance SUVs on sale

May 27, 2022

Shares of Workhorse Group Inc. WKHS, -10.25% slumped 0.62 %to $3.22 Friday

May 22, 2022
Most Pricey Luxury Hotels worldwide

Most Pricey Luxury Hotels worldwide

May 22, 2022

5 things to recognize prior to the stock market opens

May 18, 2022

Recent News

The main 10 absolute best extravagance SUVs on sale

The main 10 absolute best extravagance SUVs on sale

May 27, 2022

Shares of Workhorse Group Inc. WKHS, -10.25% slumped 0.62 %to $3.22 Friday

May 22, 2022
Most Pricey Luxury Hotels worldwide

Most Pricey Luxury Hotels worldwide

May 22, 2022

5 things to recognize prior to the stock market opens

May 18, 2022
  • About
  • Privacy & Policy
  • Contact Us
Call us: +1 234 JEG THEME

© 2021 Procurement Nation - Supply Chain & Logistics News

No Result
View All Result

© 2021 Procurement Nation - Supply Chain & Logistics News