Ford has created a new autonomous vehicle division and will invest $4 billion to accelerate the brand’s growth in the market over the next five years.

Ford Autonomous Vehicles (FAV) integrates all projects around 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.

Sherif Marakby, currently Ford vice president, Autonomous Vehicles and Electrification, has been appointed chief executive of Ford Autonomous Vehicles reporting to a board of directors chaired by Marcy Klevorn, Ford’s executive vice president and president, Mobility.

Ford said close alignment between FAV and Mobility will speed up development of business in the lead up to AV technology gaining market share.

Jim Hackett, Ford chief and president, said: “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 vice president 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”.