(RTTNews) - Ford Motor Co (F) and ADT Inc. (ADT) announced in a statement on Tuesday that they have launched a $105 million joint venture, Canopy, to develop and sell in-vehicle security systems for commercial and retail customers.
The first standalone systems, due in about 12 months, will use video cameras to monitor vehicles and equipment stowed in them. Customers will be able to live-stream the video via a mobile app.
Being 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. Eventually, Canopy plans to develop original-equipment systems that will be installed at the factory, said 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 percent and ADT's is about $42 million or 40 percent.
The vehicle security systems will bring together 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 plans 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.
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