Hyperdrive
Ford-Backed Self-Driving Startup Argo AI Mulling IPO This Year
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Argo AI, the self-driving startup backed by Ford Motor Co. and Volkswagen AG, is considering going public as soon as this year, according to people familiar with its plans.
Bryan Salesky, Argo’s co-founder, told employees in an all-hands meeting April 1 the company is looking to boost its funding as it comes closer to commercializing its self-driving technology, said the people, who asked not to be identified revealing internal discussions. Ford, which invested $1 billion in Argo in 2017, plans to roll out robo-taxis and driverless delivery pods in 2022.