Ford and Volkswagen sank nearly $4 billion into developer Argo. Now, amid wider signs of slow progress in autonomous tech, they’re shutting it down.
SELF-DRIVING CAR DEVELOPER Argo AI suddenly announced that it was closing its doors this week. Some of its 1,800-odd employees, already reduced by summer layoffs, are to be offered jobs to “work on automated technology with either Ford or Volkswagen,” Catherine Johnsmeyer, an Argo spokesperson, said in a statement. The two auto giants had sunk some $3.6 billion into Argo and owned most of it. Now, they had decided to pull the plug.
