Volvo and Uber Team Up to Develop Driverless Car

Sweden: Volvo cars, a Sweden based car manufacturer said that it would enter into a joint venture worth USD300 million with Uber to produce driverless automobiles. Volvo and Uber are poised to use the same base vehicle for the next stage of their autonomous car strategies. As a strategic move, Uber would add its self-devised autonomous driving systems to the base vehicle of Volvo.

Both the companies have previously proclaimed their plans to develop autonomous cars which would take passengers to their destination without any human intervention. Uber announced that it had begun testing an autonomous vehicle and unveiled its first self-driving car in May. On the other hand, Volvo had begun its testing of semi-autonomous cars in 2014.

"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," Uber chief executive Travis Kalanick said. He further added, "That's why our partnership with a great manufacturer like Volvo is so important". As per TechSci Research, the joint venture between Volvo and Uber is anticipated support the demand for autonomous cars over the coming years.

According to a recent report published by TechSci Research, “Global Autonomous Car Technology Market Forecast and Opportunities, 2035 – ADAS, Semi-Autonomous, Fully-Autonomous”, globally, the automobile sector has been constantly evolving in terms of engine performance and design. Apart from these parameters, evolution of autonomous features in passenger cars is garnering attention of consumers across the world. Moreover, fully-autonomous cars are expected to be commercially available by 2025, which is expected to translate into dramatic growth in the market. Key factors which are expected to drive growth in the market over the next twenty years include anticipated increase in regulations mandating integration of autonomous technology in new vehicles, decline in prices of autonomous technology and the rising focus on safety on roads.