Volvo Doubles Down on Autonomous Tech
Volvo is doubling down on driverless technology by announcing it has taken 100% ownership of its autonomous driving software development subsidiary Zenseact.
The move, reported by Reuters, is almost certainly aimed primarily at the prospects for its trucking division with many in the industry believing heavy-duty commercial transport will lead the way in automated driving technologies. As our sister website, WardsAuto, reports, the automaker has also recently announced a partnership between its Volvo Autonomous Solutions wing and Uber Frieght.
Volvo Cars acquired 13.5% of shares in Zenseact from ECARX, which made the autonomous software company a fully owned subsidiary of the Swedish automaker. Zenseact will continue to remain and operate as a standalone company, said the automaker.
— Paul Myles is a seasoned automotive journalist based in Europe. Follow him on Twitter @Paulmyles_
