Connect with us

News

Ford, VW’s Autonomous-Driving Startup Argo AI Closed For Good

Published

on

Image for article titled Autonomous-Driving Startup Argo AI Is No More

Photo: Jeff Kowalsky / Contributor (Getty Images)

Argo AI, the self-driving car startup that attracted a $1 billion investment from Ford back in 2017, is closing its doors. TechCrunch reports that the more than 2,000 employees were told this news today in an all-hands meeting that included an address from the startup’s founders.

Details are still scarce, especially the one we all want to know: Why exactly is startup shutting down. According to TechCrunch, Ford and Argo’s other main investor, Volkswagen, will absorb its assets and retain some of its workers.

The good news is, it sounds like Argo’s employees won’t be left completely out to dry. They’ll all reportedly get “a severance package that includes insurance and two separate bonuses — an annual award plus a transaction bonus upon the deal close with Ford and VW.” For anyone who isn’t offered a job at Ford or VW, their package includes “termination and severance pay, including health insurance.”

More information will probably come to light in the next week or so, but Argo shutting down is big deal. It doesn’t necessarily mean automated driving is dead in the water or anything quite that drastic, but Argo was one of the companies you had to cheer for even if you were highly skeptical of autonomous technology.

Unlike Elon Musk and Tesla, Argo didn’t make wildly unfounded claims that it was just a couple of years away from offering self-driving taxis that could drive across the country entirely on their own. Right from the beginning, the CEO made it clear Argo knew that wasn’t the case, writing in a blog post:

We’re still very much in the early days of making self-driving cars a reality. Those who think fully self-driving vehicles will be ubiquitous on city streets months from now or even in a few years are not well connected to the state of the art or committed to the safe deployment of the technology. For those of us who have been working on the technology for a long time, we’re going to tell you the issue is still really hard, as the systems are as complex as ever.

And he was right. Five years later, you still can’t buy a self-driving car. Automated taxi services from Google’s Waymo and GM’s Cruise exist in specific cities with great roads and little rain or snow, but that’s about as far as we’ve gotten.

If autonomous cars were ever going to make it onto the road in significant numbers, it looked like Argo was taking the right approach. But for whatever reason, that didn’t work out. Maybe one day, the technology will be mature enough to actually replace human drivers, but it’s hard to see this as anything other than a major setback for autonomous driving.

It’s not like the race to get self-driving cars on the road has been cheap, either. Companies have reportedly spent at least $100 billion trying to develop technology that still isn’t guaranteed to work. And even if it does, will it do anything to significantly improve people’s lives in ways that a major investment in public transportation wouldn’t?

Continue Reading

Recent News

Exhibition Game Exhibition Game
How to16 hours ago

How to Choose the Ideal Exhibition Game for Your Event

Hosting an event involves a multitude of decisions, from the venue to the catering, but one aspect that can make...

Boiler Boiler
Guide2 days ago

When Is the Best Time to Replace a Boiler?

A boiler is a workhorse that works around the clock. It provides heat and warm water whenever needed. While horses...

Grammar Grammar
Tech3 days ago

Grammar Checkers Unleashed: Enhancing Writing Precision and Efficiency

In the present computerized age, the ascent of simulated intelligence innovation has presented new difficulties in regards to the genuineness...

Crypto Staking Crypto Staking
Crypto6 days ago

Is it Possible To Make Money On Crypto Staking in 2024?

In the modern world, cryptocurrencies and blockchain technologies are becoming increasingly popular, attracting the attention of investors and users from...

Lake Como Lake Como
Wedding6 days ago

How to Choose the Right Location for a Marriage Proposal in Italy and Lake Como

Proposing marriage is a unique and memorable moment in a couple’s life. Choosing the right location is crucial to creating...

Personal Injury Lawyer Personal Injury Lawyer
Law1 week ago

Finding the Best Personal Injury Lawyer in Lumberton, NC

Personal injury law is designed to protect individuals who have been harmed due to the negligence or wrongful actions of...

WhatsApp Business WhatsApp Business
Business1 week ago

Running WhatsApp Business with Pro+VPS for Android Emulator

WhatsApp Business is one of the most powerful tool for Business to manage customers communication. Running it can enhance the...

Civil Partnership Visa Civil Partnership Visa
Finance2 weeks ago

Civil Partnership Visa vs Spouse Visa: Which One is Right for You

Choosing the right visa to join your partner in the UK can be confusing. Two common options are the Civil...

Crypto Crypto
Crypto2 weeks ago

Staked Crypto – A Step-by-Step Guide for Beginners

Ethereum staking has become an increasingly popular way for cryptocurrency holders to earn passive income through staking rewards. In this...

Ethereum Staking Ethereum Staking
Crypto2 weeks ago

Maximizing Ethereum Staking Rewards: Tips and Tricks

Are you looking to maximize the potential of your Ethereum holdings? Stake Ethereum using OkayCoin and take advantage of the...