Ford CEO Jim Hackett and Volkswagen CEO Herbert Diess appeared together on Wall Street Friday, building on a growing alliance between the two automakers first announced a year ago.With this latest investment, Volkswagen has agreed to join Ford in investing in Argo AI, the autonomous vehicle platform company now valued at $7 billion. The two automakers said they will own a majority of Argo AI.
But he said despite that uncertainty and massive costs, automakers"can't sit on the sidelines and wait for it to happen."That's why cost-sharing arrangements such as this one are necessary."These [joint efforts] are really smart ways ... to make sure the companies are evolving and not taking too much risk," Hackett told investors at the public session.The alliance between the automakers had produced only modest agreements until now.
People should use their legs, not automobiles. Laziness is the only reason otherwise. If you drive, you're contributing to the extinction of our species. We only have 11.5 years left! GreenNewDeal
Tesla already beat you to it ! Old news !!!
E car is no future
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Source: Reuters - 🏆 2. / 97 Read more »
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