AUTO

Volkswagen Invests $ 2.6 Billion in Unmanned Car Software Development Company

The automaker will work with a partner Ford.

Volkswagen head Herbert Diss and Ford head Jim Hackett  Boris Roessler, Getty Image

Volkswagen will invest $ 2.6 billion in software development for unmanned vehicles. According to Interfax, the manufacturer invests in Ford Motor partner Argo AI.

According to Dow Jones, at the time of the transaction, a startup is estimated at $ 7 billion. Argo AI will develop the technology of unmanned driving for Volkswagen, as well as developing commercial software.

Earlier, CNBC reported that Volkswagen and Ford plan to set up joint ventures for the production of unmanned electric vehicles. It is assumed that as a result of the new deal, companies will be able to exchange intellectual property.

AutoTrends Consulting analyst Joe Filippie said that such cooperation is a good plus for large automakers. They can create new cars taking into account new technologies, while independent companies may face problems integrating their software into vehicles.

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