Volkswagen to inject $2.6 billion into Ford unit Argo AI: source

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Volkswagen to inject $2.6 billion into Ford unit Argo AI: sourceCarmaker Volkswagen will inject $2.6 billion into Ford's self-driving unit Argo AI at an overall valuation of $7 billion in the deal, a source close to the matter said on Friday. Volkswagen will contribute $1 billion in capital and $1.6 in own business activities, and VW and Ford will be equal stakeholders of the venture, the source said. Ford and VW said on Thursday they are expanding their global alliance and that they would announce details on a technology-sharing agreement on Friday.


Read More: https://news.yahoo.com/volkswagen-inject-2-6-billion-084418822.html

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