Volkswagen to invest $2.6bn in Argo AI.

Volkswagen agreed to join Ford in investing $2.6bn in Argo AI, the autonomous vehicle platform company, at $7bn valuation. Tie-up allows both automakers to independently integrate Argo AI’s self-driving system into their own vehicles, delivering significant global scale. “While Ford and Volkswagen remain independent and fiercely competitive in the marketplace, teaming up and working with Argo AI on this important technology allows us to deliver unmatched capability, scale and geographic reach. Unlocking the synergies across a range of areas allows us to showcase the power of our global alliance in this era of smart vehicles for a smart world,” Jim Hackett, Ford President and CEO.