Auto driving start-up Argo AI, invested by Ford and Volkswagen, may go public this year

According to people familiar with the matter, Argo AI, a self driving start-up invested by Ford and Volkswagen , is cooperating with investment banks to prepare for the listing, which may be carried out as soon as this year. The company’s valuation is expected to exceed $7 billion.
The five-year-old company has chosen Citigroup and JPMorgan Chase (153.59, 0.18, 0.12%) as its advisers to consider whether to go public through a traditional IPO or a merger with a special purpose acquisition company (SPAC), the source said.
Argo said a final round of private financing would take place this summer before the listing. A spokesman for the company said: “our current focus is to fight for a round of private investment as part of our listing plan. We expect that the money raised this summer will help consolidate our path to commercialization. “

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