Ford Argo AI
In the financial report from Ford (Ford Motor), one of the owners of Argo AI gold, the company revealed that Argo AI will close its doors, but Ford will directly hire engineers from Argo to accelerate the development of its level 2+ and level 3. technologies. Ford made this decision, apparently, because Argo AI’s level 4 autonomous driving technology (where the car does most of the driving) was too expensive, forcing Ford to acknowledge $ 827 million in related losses in the third. quarter and unable to attract more investors. Instead, focus on level 2+ (advanced driving assistance) or level 3 (conditional autonomous driving) technologies that can be applied to vehicles faster.
according to TechCrunch It is reported that Ford and another large Volkswagen money owner (Volkswagen / Volkswagen) will spin off the technology and other assets of Argo AI, but it is unclear how it will be divided, nor how many Argo’s 2,000 employees exist. in two major car manufacturers. All employees will reportedly receive generous severance packages, while those not employed by Ford and VW will also receive additional bonuses and health insurance.
Argo AI was originally developed independently by Ford, and in 2018, it said it would invest $ 1 billion in Argo AI within five years; VW joined Argo AI in 2019 with a capital of $ 2.6 billion. Over the years Argo AI is not without progress, like todayTrial operations began in Austin, Texas and Miami, Florida in May. But in the end, developing level 5 fully autonomous driving is more difficult than imagined, and the mass market is still just a few years away. its financial report that “the industry will commercialize level 4 technology on a large scale, it will take a little longer than expected.”
