GOTHENBERG, Sweden — Volvo Group Venture Capital AB has invested in the Canadian company Waabi Innovation Inc. to develop new autonomous trucking technology.
The investment “highlights the companies’ shared commitment to redefine the way goods are moved and accelerate the deployment of future transport solutions,” a news release stated.
“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,” President of Volvo Group Venture Capital Martin Witt said. “We are impressed by what they have accomplished and see that Volvo Group can add considerable strategic value to the development of their business. We are currently exploring ways to cooperate.”
Freight movement is rapidly increasing, with the trucking industry moving the vast majority of the goods.
Accommodating this growth pressure every part of the supply chain industry. Volvo Group believes fully autonomous trucking transports are key to provide additional capacity, better safety and improved efficiency but also support drivers in tiresome routes.
“Partnerships and investments are key to commercializing autonomous transport solutions at scale,” President of Volvo Autonomous Solutions Nils Jaeger said. “We welcome Volvo Group’s decision to invest in companies like Waabi who are building the new transport ecosystem.”
Waabi is developing next-generation artificial intelligence technology to solve autonomy at scale. The company unveiled the Waabi Driver, its core autonomous trucking solution, designed for large-scale commercialization and safe deployment.
This solution is complemented by Waabi World, a scalable simulator exposing the Waabi Driver to the vast diversity of scenarios needed to hone its driving skills and paving the way to widespread adoption of autonomous trucking.
“Autonomy will one day transform trucking and logistics, but the self-driving industry has not solved this challenge, yet,” Raquel Urtasun, founder and CEO of Waabi, said. “Our AI-first approach is the key to unlocking this reality at scale. Volvo Group’s investment in Waabi marks the next step in our journey, particularly around our shared commitment to safety.”
The Trucker News Staff produces engaging content for not only TheTrucker.com, but also The Trucker Newspaper, which has been serving the trucking industry for more than 30 years. With a focus on drivers, the Trucker News Staff aims to provide relevant, objective content pertaining to the trucking segment of the transportation industry. The Trucker News Staff is based in Little Rock, Arkansas.
