Ford Joins Forces With ADT To Strengthen Vehicle Security

Ford Motor Co F and ADT Inc ADT agreed to form a new joint venture called Canopy to provide AI-powered connected security cameras, and a corresponding mobile app for various vehicle makes and models.
The partners expect to invest approximately $100 million during the next three years.
The companies' initial funding is expected to close in the second quarter of 2022.
The JV combines ADT's professional security monitoring and Ford's AI-driven video camera technology.
Canopy plans to launch multi-sensor security systems with available professional monitoring early in 2023.
The first products to be manufactured and sold will be available in the U.S. and the U.K. for commercial and retail pickups and vans – including the Ford F-150, F-150 Lightning, Transit vans, and E-Transit.
Canopy also plans to integrate camera security solutions in Ford vehicles in 2023.
Price Action: F shares are trading lower by 2.24% at $24.63, and ADT is down by 0.19% at $7.91 on Tuesday's last check.