Argo AI, the self-driving startup that launched Robo taxies in Austin, is laying off 78 employees in Austin.
The company filed a report with the Texas Workforce Commission, reporting 68 employees would be laid off at Argo’s 7th Street location and 10 employees at its Congress location. Argo AI had engineering and development operations and fleet operations in Austin, according to its website.
In 2019, Ford announced plans to expand its self-driving vehicle testing to Austin in collaboration with Argo AI. It was only the third market for Ford to test in along with Miami-Dade County and Washington, D.C.
TechCrunch reported on Oct. 26th that Argo was shutting down its operations. The announcement came after Ford announced a write-down of its $2.7 billion investment in Argo following its third-quarter earnings report, according to Ward Automotive.
“The folding of Pittsburgh-based Argo AI, which was valued at $7.25 billion just two years ago, according to the website Pitchbook.com, throws a broom-handle in the spokes of the whole notion of fully automated vehicles – an idea industry players have been touting for five years,” according to Ward Automotive.
In September of last year, Walmart announced that it teamed up with Ford Motor Co. and Argo AI to launch an autonomous vehicle delivery service in Austin, Miami, and Washington, D.C.
On Sept. 29th, Lyft reported that it was offering customers autonomous vehicle rides in Austin, the first commercial autonomous service available in the city. It was working with Argo AI to provide the service.