Volkswagen is planning to invest $1.7 billion in a self-driving car venture with Ford’s subsidiary Argo as auto makers seek to share the huge costs of developing self-driving cars
BERLIN—Volkswagen AG is planning to invest around $1.7 billion in a self-driving car venture with Ford Motor Co.’s Argo subsidiary, according to people familiar with the matter.
After months of talks, the German and U.S. car makers have agreed to make Ford’s autonomous-driving unit Argo the nucleus of an equally held joint venture that could receive additional assets from Volkswagen over time.
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