Volvo to sell own self-driving car tech to other automakersSeptember 7, 2016 - 15:12 AMT PanARMENIAN.Net - Volvo is forming a joint venture with Swedish automotive safety supplier Autoliv to develop autonomous driving software and sell it to other automakers. It’s the first time an automaker has partnered with a "tier-one" supplier to develop self-driving technology, The Verge said. The deal will see Volvo and Autoliv move their autonomous vehicle software development and intellectual property to the joint venture, which will start with an initial headcount of 200 employees (split between the existing staffs of both companies) and will grow to more than 600. The new company will be headquartered in Volvo’s hometown of Gothenburg, Sweden. Until now, most automakers have been keeping their internally developed autonomous vehicle technology close to the vest, but this venture will see Volvo’s self-driving tech made available to other carmakers, with revenue shared between Volvo and Autoliv. Both Volvo and Autoliv will transfer their autonomous vehicle intellectual property to the new joint venture, with Autoliv acting as the exclusive supplier of any developed technology to outside companies (Volvo will purchase directly from the joint venture). Volvo has a history of developing safety innovations that it then provides to other automakers. It could be that the company considers autonomous driving a similarly crucial safety feature and is willing to give up any competitive advantage it might have keeping the technology to itself. Of course, unlike Volvo inventions such as the three-point seatbelt harness, this autonomous tech won’t be available free of charge. Top stories Yerevan will host the 2024 edition of the World Congress On Information Technology (WCIT). Rustam Badasyan said due to the lack of such regulation, the state budget is deprived of VAT revenues. Krisp’s smart noise suppression tech silences ambient sounds and isolates your voice for calls. Gurgen Khachatryan claimed that the "illegalities have been taking place in 2020." Partner news Most popular in the section | Czech-Armenian military cooperation discussed in Yerevan A delegation led by the Director General for the Industrial Cooperation Division of the Ministry of Defence of the Czech Republic visited Armenia. U.S. welcomes efforts to define Armenia-Azerbaijan border The United States welcomes efforts to define the border between Armenia and Azerbaijan, says Vedant Patel. Biden honors resilience of Armenian people on April 24 U.S. President Joe Biden has issued a statement on the 109th anniversary of the Armenian Genocide. Ex-Karabakh leader moved to solitary confinement cell in Baku, his son says David Vardanyan is the son of former Karabakh leader Ruben Vardanyan who who is currently imprisoned in Azerbaijan. |