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Volkswagen takes stake in Ford’s Argo AI, another cold war front to fight?

Volkswagen and Ford have signed a cooperation agreement, which will see the pair develop electric vehicle (EV) and self-driving technologies. Part of the deal sees VW invest $2.6bn into Argo AI, which values the AI-focused startup at $7bn. Ford was an early investor in Argo, buying an undisclosed stake for $1bn back in 2017, and now the pair hold equal stakes – as VW is investing $1bn in cash, while committing another $1.6bn using its Autonomous Intelligent Driving (AID) subsidiary, which will be merged into Argo. To this end, AID’s headquarters is now becoming Argo’s European location, in Munich. While regulators could get involved, it looks like VW and Ford are beginning a process (Ford is selling Argo shares to…

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