Volvo Group Venture Capital, a subsidiary to the Volvo Group, has announced that Volvo has made a strategic investment in DriveCam. The two companies have joined forces with the objective of delivering innovative safety-centric solutions to the global commercial vehicle industry.
Through the investment Volvo Group becomes a minority shareholder in the company.
"Volvo Group and DriveCam have a common vision - to reduce traffic accidents worldwide," says Johan Carlsson, president of Volvo Group Venture Capital.
"Complementary to our leading position in the global truck manufacturing market, Volvo Group is also focused on the human element in reducing accidents, an area where DriveCam is a clear leader. This strategic investment enables the commercial vehicle industry to benefit from our collaborative development efforts, while it also supports the Volvo Group's vision to become the world leader in sustainable transport solutions."
"Volvo Group and DriveCam both believe that there is only one acceptable number of accidents in driving -zero," said DriveCam chairman and CEO Brandon Nixon. "And since the human element plays a role in nine out of ten accidents, the driver risk management solutions that DriveCam has pioneered are essential to both companies reaching our common goal of zero accidents on the road."
For several decades, Volvo Group has studied and analysed a large number of accidents involving trucks. This information has been, and still is one of the most important bases for the design and development of Volvo Group's trucks. These investigations have resulted in numerous safety related improvements already in place in today's trucks.
DriveCam prevents collisions and reduces fuel costs by improving the way people drive. DriveCam's solution addresses the causes of poor driving by combining data and video analytics with real-time driver feedback and coaching.
This QUBE report from just-auto provides a comprehensive overview of the global automotive safety systems sector, major suppliers, top 14 markets, technology trends and market size forecasts. Use this...
The media days for the 2013 Frankfurt Internationale Automobil-Ausstellung (IAA) are 10 & 11 September. Each of the following vehicles is a world premiere at the show....
Volvo Cars saw global sales rise 14% in July to 33,650 compared to the same month last year on the back of strong growth in China and a healthy performance in Europe....
General Motors has hired former Volvo CEO Stefan Jacoby to head up international operations. He replaces Tim Lee, who will take up the position of chairman, GM China....
The long awaited free trade agreement between Colombia and Europe will start on 1 August with the first group of measures....
Sales growth of 34% in the first half of this year has catapulted Suzuki into the UK top 20, ahead of Volvo and Mazda and nibbling at the heels of Renault....
Technology company, Torotrak, says it expects to acquire the remaining 80% of flywheel innovator, Flybrid, in November or December this year....
- THE WEEK - aftermarket player and new products
- Volkswagen counts the cost of 'dieselgate'
- ANALYSIS - Jaguar takes on Porsche with F-PACE
- Autumn facelift beckons for Citroen's Family hit
- TowerSec VP on automotive cyber security - Q&A
- Maserati to double Levante SUV output
- Magna to build aluminium casting facility in UK
- Ford says new Fusion hybrid has 610 miles of range
- just-auto takes a break
- Volkswagen nominates 55 FAST suppliers
- Global light vehicle engine technologies market - forecasts to 2030
- Global light vehicle safety systems market - forecasts to 2030
- PLDB - vehicle cycle plan database (12-month membership)
- Global light vehicle roof systems market - forecasts to 2030
- Global light vehicle turbochargers market - forecasts to 2030