Deals
Ford and VW Discuss Autonomous Car Team-Up at a $4 Billion Valuation
- Talks at Ford’s headquarters described as a breakthrough
- Agreement could be reached within months, people say
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Ford Motor Co. and Volkswagen AG are progressing toward a potential agreement to join forces on self-driving cars and have overcome earlier obstacles, according to people familiar with the talks.
Breakthroughs in the deliberations Thursday include a possible framework for Volkswagen to work with and invest in Argo AI, the Ford-backed autonomous-vehicle startup, said the people, who asked not to be identified because the talks were private. The automakers discussed an approximate valuation for the company of $4 billion, one of the people said.