Ford Motor Co. created Ford Autonomous Vehicles LLC, a new organization charged with accelerating its AV business to capitalize on market opportunities. The company also detailed key organizational changes designed to improve its operational fitness and drive profitable growth.

The company is organizing its self-driving business into Ford Autonomous Vehicles LLC, which will include Ford’s self-driving systems integration, autonomous vehicle research and advanced engineering, AV transportation-as-a-service network development, user experience, business strategy, and business development teams. The new LLC, which is structured to take on third-party investment, will be primarily based at Ford’s Corktown campus in Detroit and will hold Ford’s ownership stake in Argo AI, the company’s Pittsburgh-based partner for self-driving system development. Ford expects to invest $4 billion in its AV efforts through 2023, including its $1 billion investment in Argo AI.

Sherif Marakby, currently Ford VP, autonomous vehicles and electrification, is appointed CEO of Ford Autonomous Vehicles LLC reporting to a board of directors chaired by Marcy Klevorn, Ford’s executive VP and president, mobility. The closer alignment of the self-driving platform and the mobility solutions teams will allow faster development of businesses that can thrive in the pre- and post-autonomous vehicle worlds.

“Ford has made tremendous progress across the self-driving value chain – from technology development to business model innovation to user experience,” said Jim Hackett, president and CEO, Ford Motor Co. “Now is the right time to consolidate our autonomous driving platform into one team to best position the business for the opportunities ahead.”

With Marakby’s move, Ted Cannis, global director, electrification, will lead Ford’s Team Edison, the team responsible for developing and bringing to market next-generation electric vehicles. Team Edison will continue to report to Jim Farley, executive VP and president, global markets.

Ford’s electric vehicle strategy includes rethinking the ownership experience, including making charging an effortless experience at home and on the road, as well as offering full-vehicle over-the-air software updates to enhance capability and features.

All organization changes announced today are effective Aug. 1.