Hyperdrive
Ford, VW Shut Self-Driving Joint Venture Argo AI in Surprise Move
- Fully autonomous technology too far away, Ford CEO says
- Volkswagen to focus on other efforts and partnerships
An Argo AI modified Ford Fusion autonomous vehicle in Pittsburgh, Pennsylvania.
Photographer: Justin Merriman/BloombergThis article is for subscribers only.
Argo AI, the autonomous vehicle technology company backed by Ford Motor Co. and Volkswagen AG, is shutting down as the giant automakers shift their strategies for self-driving cars.
Ford decided it needed to invest in driver-assistance technology that was more achievable in the near term rather than Argo’s goal for driving with little human interaction, the company said in a statement. Ford’s decision led VW to walk away, too, according to people familiar with the matter. Ford and VW continue to cooperate on electric and commercial vehicles in the US and Europe.