Argo AI, an autonomous vehicle startup, will be shut down and its parts will be absorbed into Ford and Volkswagen, as first reported by TechCrunch.
According to the report, Argo AI employees were told at an all-hands meeting that some people would receive offers from the two automakers. Employees were also told they would receive a severance package.
Headquartered in Pittsburgh, Pennsylvania, Argo AI was co-founded in 2016 by Bryan Salesky and Peter Rander.
Argo AI in Fleet Forward News:
The latest announcement before shutting down was that the startup unveiled its suite of products and services designed to enable businesses to use autonomous vehicles to enhance ridesharing or goods delivery operations.
Earlier in the year, Argo AI launched driverless testing operations in Miami and Austin. Argo said it was working with Ford to launch commercial pilots in both of these cities, including an integration with Lyft’s ride-hailing platform and a grocery delivery program with Walmart.
In September 2021, Argo AI and Volkswagen were ramping up testing and development of the all-electric ID. BUZZ AD. They were preparing for the launch of autonomous services in Germany and beyond.