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{"id":9597,"date":"2022-07-10T14:44:51","date_gmt":"2022-07-10T14:44:51","guid":{"rendered":"https:\/\/scienceandnerds.com\/2022\/07\/10\/ford-backed-autonomous-car-startup-argo-ai-lays-off-150-employees\/"},"modified":"2022-07-10T14:44:56","modified_gmt":"2022-07-10T14:44:56","slug":"ford-backed-autonomous-car-startup-argo-ai-lays-off-150-employees","status":"publish","type":"post","link":"https:\/\/scienceandnerds.com\/2022\/07\/10\/ford-backed-autonomous-car-startup-argo-ai-lays-off-150-employees\/","title":{"rendered":"Ford-backed autonomous car startup Argo AI lays off 150 employees"},"content":{"rendered":"

Source: https:\/\/www.theverge.com\/2022\/7\/9\/23201966\/ford-backed-autonomous-car-startup-argo-ai-lays-off-150-employees-driverless<\/a>
\n
<\/br><\/code><\/p>\n

\n

Argo AI, an autonomous vehicle startup backed by both Ford and Volkswagen, has laid off about 150 employees, as reported earlier by Bloomberg<\/em><\/a> <\/em>and The Wall Street Journal<\/em><\/a>. The move is supposed to offset a period of rapid growth, in which the company hired more employees than needed.<\/p>\n

\u201cWith incredible growth and progress made in our mission to deploy driverless vehicles, we are making prudent adjustments to our business plan to best continue on a path for success,\u201d Argo AI said in an emailed statement obtained by Bloomberg<\/em>. The Verge<\/em> reached out to Argo AI with a request for comment but didn\u2019t immediately hear back.<\/p>\n

As noted by the WSJ<\/em>, the layoffs make up about 6 percent of the Pittsburgh-based company\u2019s 2,000-person team. Argo AI was founded in 2016<\/a> by Bryan Salesky, the former head of hardware development for Google\u2019s autonomous vehicles (AVs), and Peter Rander, who previously served as an engineering lead for Uber\u2019s self-driving branch. Ford injected $1 billion<\/a> into the company in 2017, and Volkswagen followed up with a $2.6 billion investment<\/a> in 2020.<\/p>\n

This funding has allowed the company to build out its AV business in several US cities as well as overseas. Argo AI is currently in the process of testing fully autonomous vehicles in Miami and Austin<\/a> and plans on partnering with Lyft in both cities<\/a>. It\u2019s also teaming up with Walmart to deploy a driverless delivery service<\/a> in Miami, Austin, and Washington, D.C., and is working towards its goal of launching an automated rideshare service with Volkswagen<\/a> in Germany by 2025.<\/p>\n<\/div>\n


<\/br><\/code><\/p>\n

Source: https:\/\/www.theverge.com\/2022\/7\/9\/23201966\/ford-backed-autonomous-car-startup-argo-ai-lays-off-150-employees-driverless<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Source: Argo AI, an autonomous vehicle startup backed by both Ford and Volkswagen, has laid off about 150 employees, as reported earlier by Bloomberg and The Wall Street Journal. 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