Argo AI, driverless startup backed by Ford and VW, is shutting down
by Andrew J. Hawkins from The Verge - All Posts on (#655AW)
Drew Anthony Smith Argo AI, the self-driving startup backed by Ford and Volkswagen, is shutting down, The Verge has learned. Employees were notified during an all-hands meeting on Wednesday. (The news was first reported by TechCrunch.)
The company, which was founded by veterans of Google and Uber's self-driving car projects, has lost the financial support of Ford and VW, a source said. And according to TechCrunch, the company's resources will be absorbed by both automakers. Argo is estimated to have around 2,000 employees, though it did announce a round of layoffs earlier this year.
The decision has been made that Argo AI will not continue on its mission as a company"
In coordination with our shareholders, the decision has been made that Argo AI will not...