Ford, Volkswagen-backed Argo AI to shut down- TechCrunch

FILE PHOTO: An Argo Ai self driving prototype vehicle is seen outside a Ford and Volkswagen joint news conference in New York City, New York, U.S., July 12, 2019. REUTERS/Mike Segar

(Reuters) -Self-driving startup Argo AI will shut down operations and its employees and parts will be absorbed by its main backers, Ford Motor Co and Volkswagen AG, TechCrunch reported on Wednesday, citing people familiar with the matter.

Argo employees were told that some of them would receive offers from the two automakers, TechCrunch said, adding that it was not clear how many employees would go to Ford, Volkswagen, or lose their jobs.