VW to put $2.6 bn in Ford-backed self-driving startup Argo

German multinational automaker Volkswagen is investing $2.6 billion in capital and assets into Ford-backed self-driving startup Argo AI, at a valuation of over $7 billion, the startup revealed. The deal is part of a broader alliance between the German automaker and US-based Ford, which covers autonomous and electric vehicles. Ford had invested $1 billion in Argo AI two years ago.