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

  • 📰 Reuters
  • ⏱ Reading Time:
  • 19 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 97%

United States News News

United States United States Latest News,United States United States Headlines

German automaker Volkswagen AG has closed its $2.6 billion investment in Argo AI, the Pittsburgh-based self-driving startup disclosed in a blog post on Tuesday.

FILE PHOTO - Signage at a Volkswagen dealership is seen in London, Britain, March 30, 2016. REUTERS/Toby Melville

Argo, founded in 2016 by Bryan Salesky and Peter Rander, is now jointly controlled by VW and Ford Motor Co, which made an initial investment in Argo shortly after it was founded. VW’s agreement includes the transfer to Argo of its Munich-based Autonomous Intelligent Driving unit, which boosts Argo’s employment to more than 1,000, according to Salesky.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in US
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

They're entering in a winned contest! Go Tesla go!

bayareawatcher

QueenElizabeth rides Balmoral Fern, a 14-years-old Fell Pony, in Windsor Home Park....

United States United States Latest News, United States United States Headlines