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Argo AI is shutting down

BizTech WeeklyBy BizTech Weekly Oct 26, 2022

Argo AI, previously backed by Ford and VW, is closing down, according to reports from TechCrunch and The Robot Report. The self-driving company had plans for commercial deployment in Las Vegas in 2023. Some employees were told they would receive severance packages that would include insurance and two separate bonuses, an annual award and a transaction bonus when the deal with the two companies closes. Ford and Volkswagen announced today in their respective third-quarter earnings calls that the companies would be ending their investments in the self-automotive company. The founders, CEO Bryan Salesky and President Peter Rander, said in a statement, “We expect to see success for everyone in whatever comes next, including the opportunities presented by Ford or VW” . . .

Read more at www.therobotreport.com
BizTech Weekly
BizTech Weekly

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