Volkswagen investment vaults Argo into top ranks of self-driving firms
Share:
DETROIT (Reuters) - Volkswagen AG's $2.6-billion (£2.08 billion) investment in Ford Motor Co's Argo AI self-driving unit, announced on Friday, immediately vaults the two-year-old Pittsburgh-based startup into the top ranks in the sector. Argo said VW was investing $1 billion in cash and contributing its European self-driving unit, valued at $1.6 billion. The investment deal gives Argo a valuation of just over $7 billion, one of the highest in the autonomous vehicles sector.VW is buying the..