STOCKHOLM/SAN, FRANCISCO – Uber plans to buy up to 24,000 self-driving cars from Volvo, marking the transition of the U.S. firm from an app used to summon a taxi to the owner and operator of a fleet of cars. The nonbinding framework deal could offer San Francisco-based Uber a way to overcome setbacks at its autonomous driving division in Silicon Valley's race to perfect self-driving systems. Combining Volvo's cars with Uber's self-driving system builds on their nearly three-year relationship and comes as Uber's autonomous driving unit has been hit by a lawsuit over trade secrets and the departure of top talent. Automakers, ride-hailing firms and tech start-ups have been forging loose alliances in an effort to advance self-driving technology and claim a piece of what is expected to be a multi-billion-dollar business. Geely-owned Volvo said in a statement on Monday it would provide Uber with its flagship XC90 SUVs equipped with autonomous technology as part of a nonexclusive deal from 2019 to 2021.
Nov-20-2017, 22:30:20 GMT