• Contact Us
  • Privacy Policy
BizTech Age Logo
  • Business
  • MarTech
  • Fintech
  • Technology
  • NEWS
  • Reviews
No Result
View All Result
  • Business
  • MarTech
  • Fintech
  • Technology
  • NEWS
  • Reviews
No Result
View All Result
BizTech Age Logo
No Result
View All Result
Home Business Startup

VolksWagen invests $2.6 billion in self-driving startup Argo AI

VW invests $2.6 billion in Participation in Ford's self-driving startup Argo AI

VW invests $2.6 billion in self-driving startup Argo AI

Volkswagen is investing $2.6 billion in the Argo AI self-driving startup, in which rival Ford has held the majority since 2017. VW’s own subsidiary for self-driving cars will merge into Argo AI.

The deal was already announced in 2019, and is now under wraps: Volkswagen participates in the US startup Argo AI, which specializes in self-driving cars, and is said to hold the same stake in the company as its US competitor Ford. The scope of the deal totals $2.6 billion.

You May Like: Augmented Reality Applications in 14 Industries

As part of the investment, the VW subsidiary Autonomous Intelligent Driving (AID) will also merge with Argo AI. Up until now, AID was subdivided into the VW subsidiary Audi and was responsible for the development of self-driving cars. The startup already has offices in the US cities of Detroit, Palo Alto and Cranbury, with the merger, Argo AI now employs 1,000 people worldwide.

Self driving car manufacturers want to get the high development costs under control through cooperation

With the cooperation, VW and Ford primarily want to save money on the development of self-driving cars by sharing the costs. On the other hand, there should be no cooperation with the products developed on the basis of Argo technology one day. This was confirmed by John Lawler, Ford’s head of self-driving cars, in a blog post. His company plans to spend the money saved through the cooperation primarily on product development.

VolksWagen
VolksWagen 

Other car manufacturers are also cooperating in the development of self-driving cars. In October 2018, Honda participated in the General Motors subsidiary Cruise. Daimler in turn cooperates with the Bavarian competitor BMW in the development of self-driving cars.

ShareTweet2Share2
Previous Post

Microsoft lays off journalists to replace them with AI

Next Post

Facebook Is Making It Easier To Bulk-Delete Your Embarrassing Old Posts

Next Post
Facebook Is Making It Easier To Bulk-Delete Your Embarrassing Old Posts

Facebook Is Making It Easier To Bulk-Delete Your Embarrassing Old Posts

Leave Comment
Role of Artificial Intelligence in Business

The Role of Artificial Intelligence in Business: Opportunities and Challenges

January 25, 2023
140
yoga

7 Marketing Tips for Yoga Businesses to Get and Retain Clients

January 25, 2023
138
Performance marketing Analytics

Evaluating the Impact of Performance Marketing and Analytics

January 23, 2023
144
Technology Improve Your Dog

How Can Technology Improve Your Dog’s Life?

January 22, 2023
137
Development

Native vs Hybrid App Development

January 20, 2023
136
Networking Equipment

6 Tips For Choosing The Right Networking Equipment For Your Business

January 19, 2023
140
Sportsurge
Website

Sportsurge – Watch Live Sporting Events for Free

July 17, 2021 - Updated on November 13, 2022
AnimeDao
Reviews

AnimeDao – 13 Questions Answered

November 27, 2021 - Updated on November 13, 2022
Find The IP Address Of A VoIP
Technology

How Do I Find The IP Address Of A VoIP Phone?

June 11, 2021 - Updated on September 27, 2022
NFLbite Review
Website

NFLbite Review

August 4, 2021 - Updated on November 5, 2022
Performance marketing Analytics
Digital Marketing

Evaluating the Impact of Performance Marketing and Analytics

January 23, 2023
sneakercool Review
Reviews

Sneakercool Review – Is Sneakercool Legit?

November 13, 2022
Facebook Twitter LinkedIn Pinterest RSS
BizTech Age Logo

BizTech Age explores business and technology issues that IT leaders and business managers face when they’re evaluating and implementing a solution.

Follow Us On News Platforms

BizTechAge on Google News

Quick Links

  • Home
  • Jobs
  • Contact Us
  • Write for Us
  • Privacy Policy
  • HTML Sitemap
  • Advertise With Us

© 2021 BizTech Age Magazine for latest and trending news in Business and Technology Age

No Result
View All Result
  • Business
  • MarTech
  • Fintech
  • Technology
  • NEWS
  • Reviews

© 2021 BizTech Age Magazine for latest and trending news in Business and Technology Age

error: Content is protected !!
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.