Ford-backed Argo AI (autonomous vehicle startup) is shutting down

Argo AI, an autonomous vehicle startup that burst on the scene in 2017 stacked with a $1 billion investment, is shutting down — its parts being absorbed into its two main backers: Ford and VW, according to people familiar with the matter.​

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During an all-hands meeting Wednesday, Argo AI employees were told that some people would receive offers from the two automakers, according to multiple sources who asked to not be named. It was unclear how many would be hired into Ford or VW and which companies will get Argo’s technology.​

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“In coordination with our shareholders, the decision has been made that Argo AI will not continue on its mission as a company. Many of the employees will receive an opportunity to continue work on automated driving technology with either Ford or Volkswagen, while employment for others will unfortunately come to an end,” Argo said in a statement.​

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Ford made the decision because “large-scale profitable commercialization of Level 4 advanced driver assistance systems will be further out than originally anticipated,” the company stated. Although it should be noted that Level 4, a term used by SAE to describe a level of autonomy, are not advanced driver assistance systems.​

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Ford went on to state that the “development and customer enthusiasm for benefits of L2+ and L3 ADAS warrant dialing up the company’s near-term aspirations and commitment in those areas.”​

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More at the source:​

https://techcrunch.com/2022/10/26/ford-vw-backed-argo-ai-is-shutting-down/​

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Ford is going to devote more resources to delivering nearer-term customer benefits with L2+ and L3 ADAS, like Ford BlueCruise and Lincoln ActiveGlide.​