World News: 13:09 GMT Friday 12th July 2019. [Yahoo Business News Feed via SPi World News]
Volkswagen AG's $2.6-billion investment in Ford Motor Co's Argo AI self-driving unit, announced on Friday, immediately vaults the two-year-old Pittsburgh-based startup into the top ranks in the sector. Argo said VW was investing $1 billion in cash and contributing its European self-driving unit, valued at $1.6 billion. The investment deal gives Argo a valuation of just over $7 billion, one of the highest in the autonomous vehicles sector.
Read More: https://news.yahoo.com/volkswagen-investment-vaults-argo-top-120927347.html
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