Amazon Could Have Saved Self-Driving Startup Argo AI, But It Backed Out | Carscoops carscoops
Argo AI Shutting Down As Ford Shifts Focus From Level 4 To Level 2/3 Semi-Autonomous Driving Tech
Argo AI and Amazon launched a pilot program in Miami in 2019 where a fleet of Ford Fusion models with Argo’s self-driving system would drive pre-determined routes from an Amazon warehouse to final destinations. Argo AI was so confident that Amazon would make an investment that it hired approximately 150 people to work on outfitting the Rivian vans with its autonomous systems, reports state.
However, the ongoing war in Ukraine and spiking inflation is thought to have contributed to the deal not eventuating. Additionally, Herbert Diess was ousted as VW chief executive just a few months ago having been instrumental in VW’s investment in Argo AI and its pursuit of Amazon. Bloomberg notes that VW considered an 11th-hour bailout of Argo in the fall when Ford said it would no longer fund the company. The German automaker considered taking over Argo AI but has instead decided to invest $2.3 billion into an autonomous driving joint venture with China’s Horizon Robotics Inc.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Amazon backed out of taking a stake in Argo; then it foldedFord and VW shut down Argo AI, once worth $7 billion, after Amazon backed down from a deal to join the self-driving car venture. Here's what happened.
Read more »
Amazon.de : Olaplex No.7 Bonding Oil, 30 ml
Read more »
Amazon workers plan global strike on Black Friday, citing bad pay and working conditionsThousands of warehouse workers upset over pay and conditions are planning walkouts and demonstrations in roughly 40 countries.
Read more »
How influencers make money on Amazon: affiliate marketing, livestreamingInsider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know.
Read more »