Volkswagen will spend $ 2.6 billion on drones

Volkswagen will spend $ 2.6 billion on drones

July 13, 2019 0 By autotimesnews

Concern Volkswagen has announced its intention to invest a large amount in the startup Argo AI, which is developing the technology of unmanned driving. Meanwhile, the young company is already working with Ford.

According to Dow Jones, Argo AI is valued at seven billion dollars. In addition to developing software for unmanned vehicles, it supplies systems for commercial use. The choice of this startup is also due to the plans of Volkswagen and Ford to build a joint venture for the production of electric cars with autopilot.

In a conversation with CNBC.com, an analyst from AutoTrends Consulting, Joe Filippet, called the cooperation of automakers with Argo AI a big plus. Thus, companies will protect themselves from problems with the integration of third-party programs in their cars, initially creating models based on Argo AI technologies.