Self-driving company Argo AI, is closing down after Ford and VW announced that the companies would be ending their investments in the self-driving company. “Profitable, fully autonomous vehicles at scale are a long way off,” CEO Jim Farley said in a statement.
Parts of Argo AI will be going to Ford and VW. The companies do not entirely stop working on autonomous vehicles, but will be less ambitious than previously announced. “Profitable, fully autonomous vehicles at scale are a long way off,” CEO Jim Farley said in a statement published alongside the automaker’s third-quarter earnings. And although he says so called Level 4 advanced driver systems will be developed in the future, it might not be Ford that develops this fully autonomous capacity.