Volkswagen Autonomous Driving Partner Argo to Conduct Test Drives in Germany Within Months

[Photo by AFP Yonhap News]

[Asia Economy Reporter Byunghee Park] Bloomberg reported on the 5th (local time) that Argo, Volkswagen's autonomous driving technology partner, will conduct autonomous vehicle test drives on public roads in Germany within a few months.

Argo's CEO Brian Salesky revealed the test drive plan at an event held with Volkswagen CEO Herbert Diess on the same day. CEO Salesky said, "Road driving tests are imminent" and "They will take place within a few months." He also stated that Argo has already achieved notable results related to autonomous driving in six U.S. cities.

Volkswagen and Argo are also expected to unveil the vehicles for the test drives at the auto show opening this week in Munich.

Volkswagen CEO Diess expressed his expectations, saying, "Autonomous driving technology will change the way we use cars and completely transform our world."

In August 2019, Volkswagen announced plans to invest $2.6 billion in Argo. At that time, Argo was valued at over $7 billion.

Since then, Argo has also attracted investments from U.S. automaker Ford and ride-sharing company Lyft. When securing investments from Ford and Lyft, Argo's corporate value rose to $12.4 billion.

Argo is continuing to seek investments through investment banks and is reportedly considering an initial public offering as early as next year.

This content was produced with the assistance of AI translation services.