Volvo Piles Funds into Autonomous Truck Tech Company

Paul Myles

TU-Editor

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19th January 2023

Volvo has invested into a Canadian technology company specializing in developing systems for autonomous trucks.

Its investment wing, Volvo Group Venture Capital, is putting money into Waabi Innovation, highlighting the automaker’s focus on the area many industry pundits will be leading the charge into automated driving on a commercial basis. Freight movement is rapidly increasing, with the trucking industry moving the vast majority of the goods. Volvo believes the time is right to push towards fully autonomous trucking to provide additional capacity, better safety and improved efficiency while also support drivers in tiring long-distance routes.

Waabi claims it is developing next-generation artificial intelligence technology to solve autonomy at scale. The company recently unveiled the Waabi Driver, its core autonomous trucking solution, designed for large-scale commercialization and safe deployment. This solution is complemented by Waabi World, a scalable high-quality simulator, exposing the Waabi Driver to the vast diversity of scenarios needed to hone its driving skills and paving the way to widespread adoption of autonomous trucking.

Martin Witt, president of Volvo Group Venture Capital, said: “The company Waabi is using advanced artificial intelligence technology to test, assess skills, and ultimately teach a virtual driver to maneuver safely and efficiently in a commercial-ready autonomous trucking solution. We are impressed by what they have accomplished and see that Volvo Group can add considerable strategic value to the development of their business. We are currently exploring ways to cooperate.”

— Paul Myles is a seasoned automotive journalist based in Europe. Follow him on Twitter @Paulmyles_