Volvo Group Invests In Waabi For Autonomous Trucking Technology

(RTTNews) - 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.