Volvo Cars adds technology startup investment fund under digital transformation remit

By Johan De Mulder

Volvo Cars is accelerating its digital transformation by launching a new investment fund for technology startups.

The iconic Swedish vehicle manufacturer is planning to strengthen its handle on the technologies which are transforming the industry through a series of investments in up-and-coming firms.

With a special focus on enhancing its adoption of artificial intelligence, electrification, autonomous driving and digital mobility services, Volvo Cars will foster mutually-beneficial partnerships with innovative tech startups.

See also:


Zaki Fasihuddin, currently Vice President of Strategic Partnerships in the Volvo Cars Silicon Valley Technology Center, has been appointed CEO of the fund.

"We seek to invest in companies that can provide us with strategic access to new technologies, capabilities and talent,” he said.

"By supporting promising young firms at the forefront of technological development and providing them with both capital and strategic value, we aim to strengthen our leading role in the industry’s technological transformation."

Last year, Volvo Cars also acquired the assets and key personnel of Luxe, a US-based premium valet and concierge service. This acquisition provided a major boost to Volvo Cars’ development of digital services.

Share

Featured Articles

Top 10 metaverse projects in the UAE, including world firsts

As Accenture predicts the metaverse will fuel a US$1 trilion commerce opportunity by 2025, we round up 10 pioneering metaverse projects in the UAE

PwC’s survey shows Middle East CEOs remain upbeat on growth

CEOs in the Middle East are far more optimistic about regional growth than those in North America and Europe, according to PwC’s annual survey

Opinion: “Why we must tackle the digital skills crisis"

Upskilling for the digital world isn’t complicated but it is urgent, argues Tom Moore, CEO of WithYouWithMe – a social impact tech firm founded by veterans

5 Mins With: Kathryn Kaminsky Vice Chair Trust Solutions PwC

Leadership & Strategy

Survey: The Future of Cloud Security in the Middle East

Technology

Deloitte US Chief Purpose Officer on driving impact at scale

Leadership & Strategy