Self-driving tech company Waabi gains a prominent new investor.
The investment division of Volvo Group has made an undisclosed investment in Canadian autonomous driving technology company Waabi Innovation.
"Volvo Group can add considerable strategic value to the development of their business. We are currently exploring ways to cooperate," says Martin Witt, Volvo Group Venture Capital president. Fully autonomous trucking would add to freight capacity, increase efficiency through better utilization of expensive Class 8 trucks and improve safety, Volvo Group said.
"Solving these challenges and shaping the future of scaled autonomous trucking requires best-in-class investors, technology providers, and partners working together to build deeper, more transparent relationships with fleet and shipper customers to ultimately provide the product that meets their needs," the Toronto company said.
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