Automakers

How Ford-, VW-backed Argo lost Amazon investment

Ford Argo test drive
Ford originally invested $1 billion in Argo in 2017 to get the company off the ground, with VW following with a $2.6 billion investment completed in 2020. (FORD)
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By:
Bloomberg
November 22, 2022 11:22 AM

Amazon.com. emerged as a potential savior for Argo AI, the now-defunct startup backed by two of the world’s biggest automakers, before the deal fell apart because of a sputtering economy, concerns about control and flagging faith in fully autonomous driving.

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