The new transportation technology company is co-founded by co-CEOs Praveen Arichandran, previously head of growth at Tesla; Qamar Qureshi, previously CFO of ed-tech company Knowledgehook; and chief product officer Sisun Lee, who previously worked at Facebook and Tesla. Holly Lim, former CFO of Sidewalk Labs, will be Argo’s CFO. (The Logic)

Talking point: The company, which is not affiliated with the downsized autonomous driving company Argo AI, hasn’t unveiled their product or announced with which transit system it will work first. Arichandran said in an interview that the company wants to work with governments to solve inefficiencies in systems like bus transit, and he sees a window of opportunity as cities begin to re-constitute their fleets with EVs. In an unusual move, the company will be publicly traded at its launch, taking over the stock ticker of Steer, formerly FaceDrive. Arichandran said Steer’s main business has been wound down, though Argo plans to complete the spinout of a food delivery company, FoodsUp, and potentially plans to in sell or liquidate some of Steer’s other assets.