Hyperdrive
VW Considers Investing in Ford-Backed Autonomous Unit Argo
- Carmakers’ talks to join forces on various projects firming up
- Argo would replicate GM’s Cruise in adding a second customer
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Volkswagen AG and Ford Motor Co. are nearing a framework agreement to join forces on electric and self-driving vehicles, capital-intensive areas that are reshaping the auto industry and straining carmakers’ finances across the globe.
As part of the pact, VW may invest in Ford’s self-driving partner Argo AI, according to people familiar with the discussions. VW also is poised to share electric-vehicle technology, with Ford piggybacking onto the tens of billions of dollars that the German giant has committed to battery-powered autos, said the people, who asked not to be identified discussing confidential matters.