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Ford-VW driverless car venture folds in face of tech challenges

Argo AI once valued at $7bn but struggled to meet goal described as ‘harder than putting man on moon’

Argo AI, a self-driving vehicle group jointly backed by Ford and Volkswagen, is abruptly shutting down operations after six years of development.

Developing fully driverless technology that is profitable and scalable would cost billions of dollars and take at least half a decade, John Lawler, chief financial officer at Ford, said as the company reported results on Wednesday.

“We’ve looked at this every way you can,” he said. “And we just see the profitability . . . a long way out.”

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