Argo AI is shutting down

-
Argo AI

An Argo AI vehicle performing a driverless test ride in Austin, TX. | Source: Argo AI

Argo AI, the self-driving company previously backed by Ford and VW, is closing down, according to reports from TechCrunch and confirmed by The Robot Report. 

An Argo AI spokesperson gave this statement from the company to The Robot Report, “In coordination with our shareholders, the decision has been made that Argo AI will not continue on its mission as a company. Many of the employees will receive an opportunity to continue work on automated driving technology with either Ford or Volkswagen, while employment for others will unfortunately come to an end.”

Argo AI’s founders, CEO Bryan Salesky and President Peter Rander told its estimated 2,000 employees Wednesday during an all-company meeting that Ford and VW would be absorbing parts of the company, and that some employees would receive offers from the two companies. Other employees were told they would receive severance packages that would include insurance and two separate bonuses, an annual award and a transaction bonus when the deal with Ford and VW closes, according to reporting from TechCrunch. 

Salesky and Rander said in a statement, “We are incredibly grateful for the dedication of the Argo AI team, and so proud of our achievements together. The team consistently delivered above and beyond, and we expect to see success for everyone in whatever comes next, including the opportunities presented by Ford and VW to continue their work on automated driving technology.”

Ford and VW announced today in their respective third-quarter earnings calls that the companies would be ending their investments in the self-driving company. 

Despite a round of layoffs earlier this year in Argo AI’s Washington D.C. operation, the company had recently expanded its robotaxi services by starting operations in Austin, Texas. It even had plans for a larger commercial deployment in Las Vegas in 2023. 

Salesky and Rander founded Argo AI in 2016 as a spin-out from Carnegie Mellon University and came out of stealth in 2017 with a $1 billion investment from Ford. Since then, it has raised another $2.6 billion, primarily from Ford and VW, and secured partnerships with Walmart and Lyft. 

The post Argo AI is shutting down appeared first on The Robot Report.



from The Robot Report - Robotics News, Analysis & Research https://ift.tt/OosMF26
via artificialconference

Comments

Post a Comment

Popular posts from this blog

Valiant TMS and Realtime Robotics partner to cut programming, cycle times

-
Image
Valiant TMS is integrating robot motion optimization as a service. Source: Realtime Robotics Realtime Robotics today announced that Valiant TMS will integrate its Optimization-as-a-Service offering with customers’ manufacturing operations. The companies said the combination of Realtime’s proprietary software and engineering expertise with Valiant TMS’s manufacturing industry experience will improve the efficiency and productivity of automated operations. With Optimization-as-a-Service, companies can identify and eliminate production bottlenecks, significantly reducing cycle time and programming time, said Realtime Robotics. “Manufacturers are always looking for ways to improve their production processes, but few have the time or resources to spend on such a lengthy, involved task,” said Peter Howard, CEO of Realtime Robotics, in a release . “We’re thrilled that our optimization solution has struck a chord with so many, automating the task of generating and testing potential layou...
Read more

Ocado wins UK patent lawsuit over Autostore

-
Image
On the left, Autostore’s ASRS, and on the right, Ocado’s ASRS. | Source: Autostore, Ocado Yesterday, the UK High Court ruled that Autostore’s patents, which have been the subject of a patent infringement case against Ocado , were invalid, and that Ocado did not infringe upon them. Both Autostore and Ocado operate automated storage and retrieval systems (ASRS) that operate on similar principles. Autostore filed the lawsuit in October 2020, when it asserted that Ocado infringed upon six of its patents. The European Patent Office invalidated two of these patents before judgment was made on the case, and two other patents were withdrawn by Autostore before the hearing started.  Judge Hacon invalidated the remaining two patents because AutoStore had disclosed its technology publically in a business deal with the Central Bank of Russia before the company filed its patents. Halcon ruled that even if the patents were valid, the Ocado Smart Platform (OSP) did not infringe on the...
Read more

Update on AgTech automation at CNHI

-
Image
The Robot Report Podcast · Update on AgTech automation at CNHI The Robot Report Podcast · 2023 year in review: GenAI, humanoids dominate robotics industry   In Episode 138 of The Robot Report Podcast, co-hosts Mike Oitzman and Eugene Demaitre catch up with Marc Kermisch, global chief digital and information officer at CNH Industrial, or CNHI. Kermisch takes us through the latest developments at CNHI in agriculture autonomy and digitization, explaining how robots and data can help farmers and growers improve yields and efficiency. We also recap the latest robotics news and walk through an update from robotics and automation companies that attended this month’s 2024 CES show. News of the week Locus Robotics layoffs The mobile robot maker last week confirmed that it had a “small, targeted RIF,” or reduction in force. North American robot orders dropped last year, according to the Association for Advancing Automation ( A3 ). Warehouse construction also declined by 2...
Read more