Uber and Volvo strike deal for 24000 self-drive cars

Uber and Volvo strike deal for 24000 self-drive cars

Volvo will provide 24,000 "scalable" autonomous cars to Uber, enabling the ride-sharing firm to develop and implement its own driverless technology system... The agreement is worth over $1 billion, according to a Wall Street Journal report.

Uber and Volvo have reached a non-binding agreement whereby the Swedish carmaker will supply 24,000 self-driving cars to Uber.

The purchase highlights the delicate line Uber has been forced to walk as it pursues driverless technology while also trying to keep its current workforce of more than 2 million drivers happy.

Waymo announced its intentions to launch its own fleet of self-driving vehicles, which, just like Uber, would be controlled by an app, two weeks ago.

The XC90s, priced from $46,900 at US dealers, will be delivered from 2019 to 2021 in the first commercial purchase by a ride-hailing provider, Volvo said in a statement Monday.

Retail prices for a standard XC90 typically start around $50,000.

The deal builds on a $300 million alliance Volvo announced with Uber past year focused on collaborating on the design and financing of cars with self-driving systems, which require different steering and braking features and sensors.

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At present, tests are limited to Tempe, Arizona and Pittsburgh.

It's all a sign of the times as vehicle makers seek a way to stay relevant and successful with the onslaught of new technology and mobility solutions, and the tie-up with Uber is a very sensible route for Volvo to pursue.

Volvo, meanwhile, says the project will help it reach its own goal: being the "supplier of choice" for ride-sharing service providers around the world.

"This new agreement puts us on a path towards mass-produced self-driving vehicles at scale".

Uber would not share financial information about the project, and Volvo did not immediately respond to a request for further comment.

Of course, Uber is not the only ride-sharing company making headway in the self-driving auto industry.

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