Ford CEO Mark Fields announced a $1 billion investment in a new self-driving car tech company, Argo AI. (Photo: Ethan Miller, Getty Images) SAN FRANCISCO -- Ford Motor is betting $1 billion on the world's self-driving car future. The Detroit automaker announced Friday that it would allocate that sum over five years to a new autonomous car startup called Argo AI, which is headquartered in Pittsburgh, Pa., and will have offices in Michigan and California. Ford's financial outlay is part of a continuing investment strategy anchored to transforming the car and truck seller into a mobility company with a hand in ride-hailing, ride-sharing and even bicycle rentals. Argo AI was cofounded a few months ago by Google car project veteran Bryan Salesky and Uber engineer Peter Rander, who met while working at Carnegie Mellon University's vaunted robotics and engineering school. "The reason for the investment is not only to drive the delivery of our own autonomous vehicle by 2021, but also to deliver value to our shareholders by creating a software platform that can be licensed to others," Ford CEO Mark Fields told USA TODAY.

Most car company executives appear at the annual Los Angeles Auto Show to tout their brand's new vehicles or crow about its balance sheet. Ford Chief Executive Mark Fields came to town this year to give the kick-off keynote speech at AutoMobility L.A., the industry-only portion of the massive car show, and didn't discuss those things at all. Instead, he talked about the future of mobility, the "city of tomorrow" and how Ford is trying to find its place in a changing transportation landscape that -- confronting autonomous driving, connected cars and ride-sharing -- may soon have no place for traditional car companies. The following is an edited version of the conversation. Ford produces the F-150 truck, the most popular vehicle sold in America, but is also offering a hydrogen fuel cell Clarity and a line of plug-in hybrids.