Self-driving car developer Argo AI suddenly announced that it was closing its doors this week. Some of its 1,800-odd employees, already reduced by summer layoffs, are to be offered jobs to “work on automated technology with either Ford or Volkswagen,” Catherine Johnsmeyer, an Argo spokesperson, said in a statement. The two auto giants had sunk some $3.6 billion into Argo and owned most of it. Now, they had decided to pull the plug.
The end of Argo is just the latest sign that the global effort to get cars to drive themselves is in trouble—or at least more complex than once thought. As some investors bear down for a potential
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