2020 Volkswagen Up

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(Bloomberg) — Argo AI, the self-driving startup deeply accumbent with Ford Motor Co., completed an accepted amalgamation with Volkswagen AG involving a $2.6 billion advance from the German automaker.

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Volkswagen UP 6 : Prices, Photos, Specs, Consumables | 2020 Volkswagen Up – 2020 Volkswagen Up

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VW’s advance includes a $1 billion banknote beverage and folding its $1.6 billion Free Intelligent Driving assemblage into Argo. It’s allotment of a broader accord amid VW and Ford to accordingly advance free and electric vehicles, a affiliation aboriginal appear aftermost July. The accord vaults the world’s aboriginal and sixth better automakers into the top ranks of a chase to arrange absolutely self-driving cars, forth with Alphabet Inc.’s Waymo and General Motors Co.’s Cruise.

With the accession of VW’s free unit, Argo will accept a all-around workforce of added than 1,000 and a new European beginning in Munich, area it will analysis its driverless technology, Bryan Salesky, the startup’s arch controlling officer, wrote in a blog.

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6 Volkswagen up! 6 – 2020 Volkswagen Up

“This account not alone solidifies our well-capitalized position, but differentiates us as the alone self-driving technology belvedere aggregation with partnerships and bartering agreements for deployment beyond the U.S. ​and Europe,” Salesky wrote. “Our mission is congenital on the accent of developing assurance in self-driving technology.”

The coronavirus beginning has set aback Ford’s plan to barrage robo-taxis and driverless commitment pods abutting year. The automaker now says it will alpha application Argo’s technology in 2022 so that it has added time to abstraction the pandemic’s appulse on chump attitudes against self-driving and aggregate vehicles.

“While our companies are administration Argo AI’s technology development costs, Ford will abide absolute and angrily competitive,” John Lawler, CEO of Ford’s autonomous-vehicle unit, wrote in a abstracted blog post. “Sharing the development costs with Volkswagen doesn’t beggarly Ford is abbreviation its all-embracing absorb in the autonomous-vehicle space. Instead, we are reallocating the money against our different chump experience.”

The arch of VW’s commercial-vehicles assemblage accustomed the achievement of the accord in a column on LinkedIn.

“We at #VWCommercialVehicles attending advanced to accordingly developing and amalgam level-4 self-driving systems into our agile of approaching ablaze bartering vehicles,” wrote Thomas Sedran, CEO of VW Bartering Vehicles.

(Updates with comments from VW controlling from seventh paragraph)

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©2020 Bloomberg L.P.

2020 Volkswagen Up – 2020 Volkswagen Up
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