Autonomous vehicle startup Argo AI is shutting down
, Ford noted that the company is being wound down and that it will hire engineers from the startup to expand and speed up development of Level 2+ and Level 3 autonomous driving systems.Level 4 systems
Argo was working on to Level 2+ and Level 3 tech it's developing in-house. It noted that Argo AI wasn't able to attract new investors and that it was taking a"$2.7 billion non-cash, pretax impairment on its investment" in the company, which led to it posting an $827 million net loss for Q3., which first reported on Argo AI's closure, Volkswagen and Ford will snap up the company's tech and other assets. It's not clear how the automakers, which invested at least $3.
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