During the next three years, the JV called Canopy is expected to see an investment of around $100m from Ford and ADT

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Canopy will offer AI-powered connected security cameras to various automotive brands. (Credit: The Ford Motor Company)

Ford Motor and US-based security company ADT have agreed to form a joint venture (JV) called Canopy that combines the latter’s professional security monitoring and the automobile major’s artificial intelligence (AI) driven video camera technology.

The JV is expected to help customers bolster the security of new and existing vehicles across automotive brands with AI-powered connected security cameras and a corresponding mobile app.

During the next three years, Canopy is expected to see an investment of around $100m from Ford and ADT.

ADT chief business development officer Elliot Cohen said: “The combination of our technologies and our deep security experience creates a new category of protection for work and personal vehicles.

“Vehicles represent the second-most-valuable asset for consumers, and helping to protect them extends ADT’s safe, smart, and sustainable solutions far beyond the home.”

Canopy is planned to roll out multi-sensor security systems early next year. The systems will come with professional monitoring.

According to the parties, the first products will be available in the US and the UK for the commercial and retail pickups and vans such as the Ford F-150, F-150 Lightning, E-Transit, and Transit vans.

The products are expected to be installable easily by customers to guard expensive work and recreational equipment.

Ford new business platform vice president Franck Louis-Victor said: “Thieves have been even more active during the pandemic and know business owners store valuable equipment in vehicles, often hauling more than $50,000 of gear. Canopy is here for those who’ve had enough of thefts that threaten their livelihoods.

“Key to Ford’s software-led transformation are new ideas such as Canopy and collaborating with other innovators such as ADT, which brings to vehicle security their leadership protecting families, homes, and businesses.”

Canopy is also planned to start integrating camera security solutions in Ford vehicles in 2023 for protection inside and outside vehicles. For other automakers, the new venture will pursue factory-vehicle integrations with them in the future.

Ford and ADT’s investment will be subject to regulatory approvals and certain other conditions. Their initial funding is anticipated to close in Q2 2022.