Argo AI, the driverless startup backed by Ford Motor Co. and Volkswagen AG, laid off about 150 staff Thursday as the younger company ramped up also swiftly and identified alone overstaffed.
Argo confirmed the layoffs from a international workforce that has developed to more than 2,000.
“With incredible expansion and progress manufactured in our mission to deploy driverless autos, we are earning prudent changes to our company system to very best proceed on a route for success,” the company claimed in an emailed assertion.
The self-driving startup established in 2016 has been escalating speedily since VW invested $2.6 billion in 2020. That adopted an initial $1 billion expenditure from Ford in 2017. Argo has been on a choosing spree as it aims to deploy 1,000 self-driving automobiles in 6 US cities in the next couple yrs.
In May, Argo started testing self-driving automobiles in Miami and Austin, Texas, with out a human powering the wheel. It also is screening its autonomous method with the public in pilot applications with Lyft Inc. and Walmart Inc. in Miami, Austin and Washington, D.C.
Argo mentioned its designs to commercialize the technological know-how for Ford and VW continue to be on track.
“Argo is a critical companion of our self-driving assistance,” Ford explained in an emailed statement, “and we will carry on to help them and function alongside one another on establishing the self-driving technologies that will ability our self-driving support.”
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