Volvo And Uber Form Driverless Car Venture

Volvo and Uber form driverless car venture

STOCKHOLM, (APP - UrduPoint / Pakistan Point News - 18th August, 2016) - Sweden-based manufacturer Volvo Cars said on Thursday it would team up with ride-sharing service Uber in a $300 million (265 million euro) joint venture to develop driverless automobiles.

"Both Uber and Volvo will use the same base vehicle for the next stage of their own autonomous car strategies," Volvo, owned by China's Geely, said in a statement. "This will involve Uber adding its own self-developed autonomous driving systems to the Volvo base vehicle," it added. Uber and Volvo were two of the founding members of a coalition unveiled in April to push for a unified US legal code on self-driving cars -- a group that also includes Google, car maker Ford and Uber rival Lyft.