Motional Clarifies Independence After Argo AI Shutdown, Plans to Grow Ride-Hailing Services
Motional, an autonomous vehicle startup, has clarified that it did not abandon Argo AI in October 2022. Instead, Argo AI, a separate joint venture involving Ford and Volkswagen, shut down. Meanwhile, Motional continues its development independently. In other news, Motional will implement staff reductions affecting less than 5% of non-technical employees.
Motional, a joint venture between Hyundai and Aptiv, was founded in March 2020. Despite Aptiv reducing its 50% stake due to cash burn concerns, Motional remains optimistic about its long-term prospects. The company has been refining its technology through partnerships with Lyft and Uber in Las Vegas. In November, Motional and Hyundai announced the certification of the Ioniq 5 robotaxi under U.S. Federal Motor Vehicle Safety Standards. Motional will continue developing its technology and growing its ride-hailing services despite recent reductions. With offices in Boston, Pittsburgh, Las Vegas, California, Singapore, and Seoul, Motional is well-positioned for growth. In contrast, another autonomous driving company, Cruise, overhauled its leadership and laid off 24% of its workforce in the fall of 2022.
Motional clarifies its independence from Argo AI's shutdown and plans to continue developing its autonomous vehicle technology and ride-hailing services. Despite recent staff reductions, Motional remains optimistic about its future, with a strong global presence and partnerships with major companies.
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