BERLIN: Volkswagen AG is no longer investing in Argo AI, the company said Wednesday, focusing its self-driving efforts on existing partnerships with China’s Bosch and Horizon Robotics.
Volkswagen Commercial Vehicles will pursue partnerships with new partners to be announced soon, the automaker said in a statement, unveiling a prototype ID electric van. Buzz, already in the testing phase.
The first fruits of the partnership between Volkswagen’s software division Cariad and Bosch, announced in January this year, are expected in 2023, the statement said.
Volkswagen announced in June 2020 that it had invested US$2.6 billion in Pittsburgh-based self-driving startup Argo AI.
The investment means that the startup will be jointly managed by the German automaker and Ford Motor Co, which made the initial investment in Argo AI shortly after it was founded.
“Volkswagen will continue to work with Argo AI to provide further work opportunities for its employees and to develop promising projects on autonomous driving. All further cooperation with Ford remains unchanged,” said Volkswagen in a statement. said.
https://www.channelnewsasia.com/business/volkswagen-no-longer-investing-self-driving-startup-argo-ai-3027461 Volkswagen stops investing in self-driving startup Argo AI