VW to pump $1.7B into Ford’s self-driving car subsidiary

Volkswagen will reportedly invest nearly $2 billion into the self-driving car development arm of Ford Motor Company, The Wall Street Journal said Tuesday.

Eventually VW and Ford could hold equal parts of Argo AI, according to the report. Ford invested $1 billion into the Pittsburgh-based autonomous car development company in 2017. According to sources familiar with the matter, VW would invest about $600 million into Argo AI and would earmark another $1.1 billion as working capital for research and development.