Argo AI shuts down after Ford, VW end further investment

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Founded in 2013, Argo AI failed to commercialize its self-driving technology despite raising billions from investors.

Ford also in announcing its third-quarter financial results on Wednesday said it recorded a $2.7 billion non-cash, pretax impairment on its investment in Argo AI, and that it will now focus on developing in-house self-driving technology ranked at Level 2 and Level 3 on theVW Group also on Wednesday said it has another partner for development of self-driving technology for commercial vehicles, which it will name at a later date.

Both Ford and VW Group were working with Argo AI to develop a Level 4 robotaxi service. Level 4 signifies a vehicle that can drive on its own for extended periods but within certain conditions, the main one typically being within a geofenced area containing highly detailed map data. Level 3 is the first level in which a driver can take his or her eyes off the road, though only for short periods. The driver also has to be ready to take back control at any time.

While Ford has been vague on timing for its planned service with Argo AI, VW Group said in the past that it will launch its first service in 2025, initially in the German city of Hamburg. In its announcement on Wednesday, VW Group said it still intends to meet that target with its new partner. The service will be run by VW Group's Moia mobility business and use

 

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