As part of the transaction, Volkswagen also willpurchase Argo AI shares from Ford for $500 millionover three years. Ford will invest the remaining $600million of its previously announced $1 billion cash commitment inArgo AI.

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Also know, is Argo Ai owned by Ford?

SAN FRANCISCO (Reuters) - Ford Motor Co plans toinvest $1 billion over the next five years in tech startup ArgoAI to help the Detroit automaker reach its goal of producing aself-driving vehicle for commercial ride sharing fleets by 2021,the companies announced on Friday.

is Argo AI a public company? Argo is still a private company in whichVW and Ford have taken holdings. “Argo is nowofficially a technology platform company,” ArgoCEO and co-founder Bryan Salesky said in a press conference Fridaymorning in New York.

Moreover, who owns Argo AI?

Ford Motor Company and Volkswagen have joinedforces to invest approximately $7 billion in autonomous vehicleplatform Argo AI, a move that will give each carmanufacturer the chance to independently integrate thecompany's self-driving system into their own vehiclesthat will be rolled out in the US and Europe.

What does Argo AI do?

Argo AI is building self-driving technology toimprove the way the world moves. Since we began in 2016, we'vepartnered with leading companies in the automotive sector to makevehicles safer, more affordable, convenient, and accessible foreveryone -- regardless of age or ability to get behind thewheel.

Related Question Answers

Who owns most of Ford?

William Clay Ford Jr. is the great-grandson offounder Henry Ford and the current Executive Chairman. With6.8 million shares of common stock at his disposal in March 2018,William "Bill" Ford is the company's largest shareholder.Bill Ford joined the company in 1979 as a product planninganalyst.