Ford, Volkswagen Reportedly Discuss Autonomous Car Team-Up At $4 Bln Valuation

(RTTNews) - Ford Motor Co. (F) and Volkswagen AG are progressing toward a potential agreement to join forces on self-driving cars and have overcome earlier obstacles, according to reports citing people familiar with the matter.

The reports said the discussion included a possible framework for Volkswagen to work with and invest in Argo AI, the Ford-backed autonomous-vehicle startup. The automakers discussed an approximate valuation for the company of $4 billion.

An agreement could be finalized in a matter of months, though there's still much left to be worked out and talks could still falter, the reports said. If the companies can pull it off, the arrangement has the potential to jump-start efforts to compete in a mobility services market Ford Chief Executive Officer Jim Hackett has estimated will one day be worth $10 trillion.

The framework Volkswagen and Ford are discussing would be to create an entity similar to a joint venture, with each partner having equal ownership of the self-driving software, the reports said.
See also:
Leave a comment
  • Latest
  • Read
  • Commented
Calendar Content
«    Июнь 2020    »