Published 1 year ago

Amazon backed out of taking a stake in Argo; then it folded

Summary by Ground News

Amazon was prepared to invest several hundred million dollars into Argo last spring. Amazon planned to use Argo's self-driving technology to automate some of the electric delivery vans it’s buying from Rivian Automotive Inc. The budding relationship soured as Ford and VW grew wary that Amazon would divert Argos talent and attention.

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Amazon backed out of taking a stake in Argo; then it folded

Ford and VW shut down Argo AI, once worth $7 billion, after Amazon backed down from a deal to join the self-driving car venture. Here's what happened.

1 year ago

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