Volkswagen no longer invests in autonomous startup Argo AI

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BERLIN (Reuters) – Volkswagen AG is no longer investing in Argo AI, the company said on Wednesday, focusing its automated driving efforts on its existing partnerships with Bosch and Horizon Robotics in China.

Volkswagen Commercial Vehicles will continue a partnership with a soon-to-be-appointed new partner, the automaker said in its statement, with prototypes for its electric van, the ID. Buzz, already in the test phase.

The first results of the partnership between Volkswagen’s Cariad software unit and Bosch, announced in January this year, are expected in 2023, according to the statement.

Volkswagen announced a $2.6 billion investment in Argo AI, the Pittsburgh-based self-driving startup, in June 2020.

This investment meant that the startup was jointly controlled by the German automaker and Ford Motor Co, which made an initial investment in Argo AI shortly after its inception.

“Volkswagen is working with Argo AI to provide new work opportunities for employees and to continue to develop promising projects on autonomous driving. All other cooperations with Ford remain unchanged,” Volkswagen’s statement said.

(Reporting by Jan Schwartz and Victoria Waldersee in Berlin; Editing by Matthew Lewis)

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