24 August 2026
Ford and Volkswagen backed self-driving startup Argo AI shut down
First reported
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- Argo AI, valued at $7 billion and backed by Ford and Volkswagen, closed in October 2022 after failing to commercialize Level 4 autonomous driving technology (vehicles that can drive themselves without human input).
- The company underestimated how much time and money would be needed to turn working technology into a business that made money.
