Ford, ADT form venture to make vehicle security products
DETROIT (AP) — Ford and security company ADT have formed a joint venture that will help businesses protect vehicles and expensive equipment they carry from theft.
The first product from the venture called Canopy is a system that uses cameras, radar, global positioning and artificial intelligence to spot a potential thief and notify ADT, which will monitor the feeds and notify the customer or authorities if needed.
The system will be offered as accessory on Ford and other top-selling vehicles starting next year. The company expects to integrate it in factory vehicles and offer it to other manufacturers over time.
Ford is putting up about $60 million to start the venture during the next three years, with $40 million coming from ADT.