DETROIT (Reuters) – Volkswagen AG’s $2.6-billion funding in Ford Motor Co’s (F.N) Argo AI self-driving unit, introduced on Friday, instantly vaults the two-year-old Pittsburgh-based startup into the highest ranks within the sector.

Ford President and CEO Jim Hackett, Argo AI co-founder Bryan Salesky and VW CEO Herbert Diess seem with a prototype automobile after asserting a joint funding in Argo, a self-driving autonomous automobile firm in New York Metropolis, New York, U.S. July 12, 2019. Sam VarnHagen/Handout by way of REUTERS

Argo mentioned VW was investing $1 billion in money and contributing its European self-driving unit, valued at $1.6…

Source link