Volvo Group Invests In Waabi For Autonomous Trucking Technology

Swedish auto major Volvo AB (VOLVY.PK) announced on Wednesday that its arm Volvo Group Venture Capital AB has announced an investment in Waabi Innovation Inc, a Canadian developer of the next generation of autonomous trucking technology. Financial terms are not revealed.

Martin Witt, President of Volvo Group Venture Capital, said: "The company Waabi is using advanced artificial intelligence technology to test, assess skills, and ultimately teach a virtual driver to maneuver safely and efficiently in a commercial-ready autonomous trucking solution.

The transaction has no major impact on the Volvo Group's earnings or financial position, the vehicle maker has clarified.

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