The Swedish manufacturer and the hi-tech taxi company have teamed up to develop driverless car technology.
The joint projects between the two companies is worth over $300 million, with the key aim to create new technologies to further the advancement of autonomous driving technology. Volvo will design the base vehicles, and Uber is poised to purchase them after completion, where they will then be used as potentially the world’s first driverless taxis. Uber has also been developing its own driving systems with autonomous driving features, and these systems will be added to Volvo’s cars.
The announcement of the partnership is a landmark for the motoring industry, as it is the first time a motoring company has paired with a Silicon Valley business. The president and chief executive of Volvo Cars, Håkan Samuelsson, commented:
“We are very proud to be the partner of choice for Uber, one of the world’s leading technology companies. This alliance places Volvo at the heart of the current technological revolution in the automotive industry.”