Ford Motor and ADT form joint venture to market in-vehicle safety systems

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

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

The first autonomous systems, expected in about 12 months, will use video cameras to monitor vehicles and equipment stored there. Customers will be able to stream live video through a mobile app.

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

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Canopy did not disclose pricing or fees.

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

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

Ford will be the first to offer the vehicle safety systems to existing customers, but Canopy plans to approach other automakers, as well as insurance and technology companies.

The vehicle’s security systems will bundle acoustic sensors and radar with Ford’s AI-driven camera technology into a dashcam-sized package. The device can be mounted in a van bed or in a 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 services early next year to owners of commercial trucks and vans in the United States and the United States. UK, including Ford’s F-150 and F-150. Lightning pickups and Transit and E-Transit vans.

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Reporting by Paul Lienert in Detroit Editing by Matthew Lewis

Our standards: The Thomson Reuters Trust Principles.

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