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

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

Volkswagen has closed its $2.6B investment in Argo AI, the Pittsburgh-based self-driving startup. VW’s agreement includes the transfer to Argo of its Munich-based Autonomous Intelligent Driving unit. Volkswagen will invest $1B into Argo and contribute the AID group. Under the deal, VW and Ford will each hold equal, minority stakes in Argo that combine to give the automakers majority control.

KCooper
KCooper
Top in Tech
Get the App