The Volkswagen Group and the US manufacturer Ford announce the end of their joint journey towards autonomous driving with Argo AI.
Since 2019 worked VW and ford in terms of autonomous driving. Now they both want to go their separate ways. what will happen Argo AI?
Apparently, it is the costs that have prompted the companies to part with Argo AI. The start-up helped develop autonomous driving for the companies. Many companies have bought such start-ups or are cooperating with them. So had GM for example Cruise or intel Has Mobileye. Overall, according to a study, the industry has around $100 billion invested, but so far there are hardly any autonomous cars driving around, especially hardly any level 4.
VW and Ford are now pulling the ripcord. Ford retires, posting $2.7 billion in writedowns. VW does not want to invest more money in Argo AI. At the beginning, 2.6 billion US dollars flowed, more money was invested and should be invested. Both companies each held 40 percent of the start-up. VW wants to announce a replacement soon.
What happens now to Argo AI? Apparently the company has now decided to end it, at least the workforce was given such a message. However, VW plans to take over the employees.
However, VW is sticking to its strategy for the development of autonomous driving and wants to do it autonomously by 2025 Hamburg drive. In China, the cooperation with Horizon Robotics remains in place and there is cooperation worldwide Bosch. The e-mobility and van cooperation with Ford will remain in place.