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Volkswagen And Ford Reveal New Details About Their Self-Driving Partnership

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Volkswagen And Ford Reveal New Details About Their Self-Driving Partnership

Volkswagen And Ford Reveal New Details About Their Self-Driving Partnership

Ford and German automaker Volkswagen are reportedly close to finalizing a new joint venture to develop self-driving vehicles and technologies.

According to Business Insider, the deal will build off a separate agreement the firms announced earlier this year.

VW will reportedly invest $1.7 billion in Argo.ai, which is Ford's autonomous vehicle technology subsidiary.

The investment will give both Ford and VW a 50% stake in Argo, effectively making it a joint venture.

VW may also fold other parts of its business into the joint venture, including Audi's self-driving tech development unit and Moia, VW's mobility services segment.

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