Volkswagen closes $2.6 billion investment in self-driving startup Argo AI

Volkswagen has closed on its $2.6 billion investment in Argo AI, a Pittsburgh-based autonomous vehicle startup.

The deal included $1 billion in cash and Argo taking over VW's European self-driving unit, valued at $1.6 billion, as well as the unit's more than 1,000 employees.Volkswagen AG CEO Dr. Herbert Diess, left, and Ford CEO Jim Hackett during a press conference in New York, July 12, 2019.has closed on its $2.6 billion investment in Argo AI, the Pittsburgh-based autonomous vehicle startup announced in a blog post Tuesday.

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