Volvo Car Group and ride-sharing service Uber have signed up on a $300 million partnership to develop autonomous driving vehicles. It’s the latest partnership between a traditional automaker and a tech firm to accelerate the development of self-driving technology and at the rate these partnerships are being formed, it might be a good idea to start creating a chart to see who has partnered with who.
The Volvo-Uber deal allows both companies to pool their resources together and capitalize on the strengths of each other. For its part, Volvo will send over XC90 SUVs to Uber, which in turn will install its autonomous driving system that the company itself is developing for use in its ride-sharing service. Volvo will then use the vehicles with Uber’s self-driving tech for its own strategic purpose. The partnership covers hardware and software developments aimed at addressing important issues surrounding autonomous driving, particularly the safety and security of a system that is poised to redefine the entire auto industry moving forward. Both Volvo and Uber are also seen as 50/50 partners in this endeavor and whatever technology is developed for the purpose of this collaboration will be shared to the other party.
That said, the collaboration doesn’t both companies to one another, an important point considering how competitive the race to develop autonomous driving technology has become. For what it’s worth, Toyota has already made an investment in Uber. Likewise, Volvo and Uber are also part of a bigger lobbying group with Ford, Google, and Lyft to lobby for autonomous driving cars with lawmakers and regulators in the U.S.
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