Connect with us

Business

Argo AI, a Ford-backed autonomous driving start-up, set to go public this year

Avatar

Published

on


Argo AI, the autonomous start-up backed by Ford Motor Co. and Volkswagen Group, plans to go public as early as this year, according to people familiar with its plans.

Bryan Salesky, co-founder of Argo, told employees at an all-attendee meeting on April 1 that the company looks to increase funding as it nears commercialization of its autonomous driving technology, said people, who asked not to be identified, revealing inside information. discussions. Ford, which invested $ 1 billion in Argo in 2017, plans to deploy autonomous taxis and driverless delivery pods in 2022.

Argo had a market value of over $ 7 billion when Volkswagen made its $ 2.6 billion investment in the company last July. VW, the world’s best-selling automaker, plans to put self-driving vehicles on the road later this decade.

As technology moves closer to reality, major players, such as Alphabet Inc.’s Waymo, General Motor’s Cruise, and Amazon.com-backed Aurora Innovation Inc., should consider public offerings to meet funding needs. croissants. Chinese autonomous truck start-up TuSimple Inc. has just revealed its intention to sell shares in an IPO. The driverless truck startup Plus is in talks with special purpose acquisition companies for a merger, a route several EV companies have used to go public.

The timing is right for Argo as it is in the advanced stages of its technology development, with tests underway in six cities including Miami, a new lidar guidance system, and a clear path to commercialization through partnerships. with two of the world’s largest automakers, the people have said.

The startup is still working on details with its auto partners and it’s unclear whether it will do a traditional IPO or merge with a PSPC, people said. And the plans could slip into next year, the people said.

“ Financial track ”

“We have a solid financial track through investments from our partners Ford and Volkswagen, but we have always said that we are open to additional partnerships or investment opportunities to further accelerate our growth,” Argo said in a statement. .

Information reported earlier on Argo’s plans to go public.

Salesky, who helped start Google’s self-driving car project that became Waymo, co-founded Argo in late 2016 with Peter Rander, a former Uber Technologies Inc. Autonomous Auto Operations alumnus Salesky expressed interest in s ‘partner with an Asian car manufacturer to allow Argo to reach all major regions.

“We have a strong global player, strong in Europe, VW and Ford being strong in the United States,” Salesky said in 2019 as the deal with VW was announced. “A third player is absolutely possible.”

Argo’s workforce has grown to 1,300 and now operates in the United States and Germany.

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos



picture credit

ExBUlletin

to request, modification Contact us at Here or [email protected]