A PYMNTS Company

US: Uber to buy up to 24K autonomous vehicles from Volvo

By  |  November 22, 2017

Volvo, the vehicle manufacturer, announced Monday (Nov. 20) that it inked a deal with Uber, the ride-hailing app company, to sell it tens of thousands of self-driving compatible vehicles from 2019 through 2021.

In a press release, Volvo said the vehicles are currently being developed in-house on the company’s Scalable Product Architecture (SPA), which is used to create its high-end line of 90 series vehicles and its new XC60 mid-size SUV. This deal, which isn’t exclusive, is an expansion of Volvo and Uber’s existing partnership.

“The automotive industry is being disrupted by technology, and Volvo Cars choose to be an active part of that disruption,” said Håkan Samuelsson, president and chief executive of Volvo. “Our aim is to be the supplier of choice for AD ride-sharing service providers globally. Today’s agreement with Uber is a primary example of that strategic direction.”

Full Content: PYMNTS

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.