Thursday, August 11, 2022

Ford-backed auto-pilot firm Argo AI lays off 150 employees.

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Aizaz khan
Aizaz khan
Aizaz was the first person to get a byline on his blog on technology from his home in Bannu in 2017. Then, he went on to a career in breaking things professionally at my electric sparks which is where he eventually took over the kit as a hardware editor. Today, as the senior editor of hardware for my electric sparks, he spends time reporting about the most recent developments in the hardware industry and technology. If he's not reporting on hardware or electronics, you'll see him trying to be as remote from the world of technology as possible through camping in the wild.

Argo AI, an autonomous vehicle startup backed by Ford and Volkswagen, has laid off around 150 employees, as reported previously in Bloomberg and The Wall Street Journal. This move is expected to stop a period of rapid growth in which the company has hired more workers than it needed

Argo AI

“With 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,” Argo AI stated in an email from BloombergThe Verge called Argo AI with a request for comments but did not receive a response.

According to the WSJ, the cuts account for about 6.5% of the company’s 22,000-strong team. Argo AI was founded in 2016 by Bryan Salesky, the former head of the hardware development department of Google’s automated vehicles (A.V.s), and Peter Rander. He previously was an engineering director for Uber’s autonomous branch. Ford invested $1 billion in the business in 2017, and Volkswagen then followed with a $2.6 billion investment in 2020.

Argo AI,

The funding has enabled Argo AI to expand its A.V. operations in several U.S. towns and overseas. Argo AI is currently in the process of testing fully autonomous vehicles in Miami and Austin and is planning to partner in the future with Lyft for both of these cities. Argo AI is also cooperating with Walmart to launch the driverless delivery system within Miami, Austin, and Washington, D.C., and is working towards the launch of an automated rideshare service in conjunction with Volkswagen in Germany in 2025.

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