India, July 12 -- Ford Motor Co. (F) and Volkswagen AG (VKW.L, VLKAF.PK, VOW.BE) entered in to a deal to invest in the autonomous vehicle platform company Argo AI for introducing autonomous vehicle technology in the U.S. and Europe, the companies said.
Volkswagen will invest about $2.6 billion in Ford's autonomous-vehicle partner, Argo AI, in a deal that values the startup at more than $7 billion.
The collaboration allows both automakers to independently integrate Argo AI's self-driving system into their own vehicles. The alliance does not involve cross-ownership between the companies.
Ford and Volkswagen will have an equal stake in Argo AI, and combined, Volkswagen and Ford will own a considerable majority.
Ford said it will use Volksw...