Photo: Argo AI
It wouldn't be hyperbole to say Argo AI was a flagship tech company for the City of Pittsburgh, Pennsylvania. A pioneer of Lidar and sensor-based autonomous vehicle technology that prided itself not on being the first AV company but rather the best.
Ford and Volkswagen both intended to use Argo AI's hardware and software to forge their path into the lucrative autonomous vehicle sector. With multi-billion dollar investments from both companies, Pittsburgh's historic Strip District seemed set to be the cradle of American AV research and development. But with Ford and VW's recent announcement, it's clear this isn't the case. According to recent reports, the company is going bust.
From what's known, it appears the company's considerable assets, including an office complex close to the banks of the Allegheny River, a nearby service depot for their vehicles, and the vehicles themselves, will be divided among the two prime investors. It's reasonable to suspect Ford will oversee the American side of what's left over, and VW could take what it can in Europe. Although, the specifics are still being worked out as we speak.
A third-quarter loss of over $800,000,000 this year can justifiably be classified as the main impetus for the sudden and shocking beheading of what was once one of America's private technology companies outside of the Silicone Valley. Along with the aerospace company Astrobotic Technology, the two represented a renaissance in a city that was once part of America's industrial powerhouse.
Argo AI's objective from day one was to one day achieve full L4 autonomy, i.e., high-function automation, which is the highest level before full L5 automation. But it's become clear this technology doesn't come cheap. At the very least, expect both Ford and Volkswagen to invest in lesser L3 "Conditional Automation" systems in the short term while more advanced automation is put on the back burner until it becomes more financially viable. Whatever the case, it's a crippling blow for a city that has far more problems than sub-par football and baseball teams to contend with at the moment.
From what's known, it appears the company's considerable assets, including an office complex close to the banks of the Allegheny River, a nearby service depot for their vehicles, and the vehicles themselves, will be divided among the two prime investors. It's reasonable to suspect Ford will oversee the American side of what's left over, and VW could take what it can in Europe. Although, the specifics are still being worked out as we speak.
A third-quarter loss of over $800,000,000 this year can justifiably be classified as the main impetus for the sudden and shocking beheading of what was once one of America's private technology companies outside of the Silicone Valley. Along with the aerospace company Astrobotic Technology, the two represented a renaissance in a city that was once part of America's industrial powerhouse.
Argo AI's objective from day one was to one day achieve full L4 autonomy, i.e., high-function automation, which is the highest level before full L5 automation. But it's become clear this technology doesn't come cheap. At the very least, expect both Ford and Volkswagen to invest in lesser L3 "Conditional Automation" systems in the short term while more advanced automation is put on the back burner until it becomes more financially viable. Whatever the case, it's a crippling blow for a city that has far more problems than sub-par football and baseball teams to contend with at the moment.
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