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Report: VW Closer to Investing in Ford’s Autonomous Vehicle Unit
Ford Motor Co. and Volkswagen AG are nearing a possible plan to partner on the development of self-driving cars that may include a VW investment in Ford’s Argo AI startup, sources tell Bloomberg News.
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Ford Motor Co. and Volkswagen AG are nearing a possible plan to partner on the development of self-driving cars that may include a VW investment in Ford’s Argo AI startup, sources tell Bloomberg News.
The companies are closer to resolving key issues over the control of software that enables autonomous driving, Bloomberg says. The news service adds that the companies also appear to have agreed that Argo AI may be worth $4 billion.
Ford agreed two years ago to invest $1 billion over five years in Argo AI only a few months after the startup launched in Pittsburgh, Pa. The company, which operates as a For subsidiary, aims to commercialize a Level 4 autonomous-driving system in 2021.
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