Volvo has built its company identity on the foundation of saving lives in automotive accidents. Over the decades, other manufacturers have attempted to emulate Volvo’s commitment, but its cars are still among the safest on the road, offering the latest in-vehicle safety technology.
- To continually advance, Volvo created a “Technology Fund” in 2018. The purpose of this fund was, and is, investing in other companies that seek to improve safety and mobility through technology.
- Since inception, the tech fund has invested in numerous companies ranging from sensor technology for autonomous cars, to Zum, a ride-sharing service for children.
Even earlier, back in 2017, Volvo began a partnership working with DRIVE, an accelerator for young high-growth companies in the mobility sector. DRIVE worked with Volvo to seek out innovative new groups to work with, and so far has identified UVeye and MDGo as excellent investment opportunities which fully align with the values of using technology to improve safety and mobility.
UVeye, on the other hand, developed a technology to make our day-to-day lives just a little easier by automatically scanning cars for damages, dents and scratches post-accident. Expanding on that potential, Volvo also sees a use for this technology when conducting a full exterior inspection of cars after they roll-off production lines. A first pilot of the technology is expected to start later this year at the Volvo manufacturing plant in Torslanda, Sweden.
Overall, Volvo continues to innovate and branch out, now supporting new and emerging technologies external to their own research and development process. What remains through it all, however, is the brand’s unwavering commitment to continuing to provide the safest vehicles possible.