Volkswagen Group is preparing to invest up to $1.7 billion in a self-driving joint venture centered on Ford Motor Co.'s Argo AI unit, The Wall Street Journal reported Tuesday, citing sources with knowledge of the discussions.
VW is preparing to invest $600 million as an equity investment in Argo, the newspaper said, with each company owning half of the business. VW would invest $1.1 billion in working capital for the entity's research and development, the report said.
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