VW predicts its standalone self-driving unit will be ‘the world’s best-funded start-up’

Volkswagen is stepping up its efforts to develop fully driverless cars by spinning off its own startup that it claims will be among the “best-funded” in the world. Volkswagen Autonomy, or VWAT, plans to bring robot taxis and cargo vans to three continents by 2025, according to the Financial Times.

The news comes less than three months after VW announced that it would invest $2.6 billion in Argo AI, the Pittsburgh-based autonomous vehicle software startup that is also backed by VW rival Ford. Amid an uncertain future, the two global automakers have said they would join forces to build pickup trucks and commercial vehicles as well as electric cars and AVs.