The two companies have signed an agreement to establish a joint project that will develop new base vehicles that will be able to incorporate the latest developments in AD technologies, including fully autonomous driverless cars. The base vehicles will be manufactured by Volvo Cars and then purchased from Volvo by Uber. Volvo Cars and Uber are contributing a combined USD 300-million to the project.
The Volvo-Uber project marks a significant step in the automotive business with a car manufacturer joining forces with a new Silicon Valley-based entrant to the car industry, underlining the way in which the global automotive industry is evolving in response to the advent of new technologies. The alliance marks the beginning of what both companies view as a longer-term industrial partnership.
Håkan Samuelsson, president and chief executive of Volvo Cars, says: “Volvo is one of the most progressive and contemporary car makers in the world. It is a world leader in the development of active safety and autonomous driving technology, and possesses an unrivalled safety credibility. 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.”
Travis Kalanick, Uber’s chief executive, comments: “Over one million people die in car accidents every year. These are tragedies that self-driving technology can help solve, but we can’t do this alone. That’s why our partnership with a great manufacturer like Volvo is so important. Volvo is a leader in vehicle development and best-in-class when it comes to safety. By combining the capabilities of Uber and Volvo we will get to the future faster, together.”
