Mobility

Amazon backed out of taking a stake in Argo. Then the self-driving startup folded

Ford Argo test drive_DSC0230_C1-main_i.jpg
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 Motor Co.)
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By:
KEITH NAUGHTON, ED LUDLOW and MONICA RAYMUT
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By:
Bloomberg
|
November 22, 2022 11:22 AM

Amazon.com Inc. 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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