Volvo Cars to Develop Its Own Autonomous Driving Technology, CEO Says
Volvo Cars has announced that it will not be using Tesla’s autonomous driving technology and will instead focus on developing its own systems, according to the company’s CEO.
In June, Volvo Cars signed an agreement with Tesla to provide its electric vehicles access to Tesla Superchargers in North America.
During an interview with HaberTusba, Volvo Cars CEO Jim Rowan confirmed that the company has chosen to have full control over its advanced driver assistance systems and autonomous driving software.
Volvo Cars recently acquired Zenseact, a business specializing in autonomous driving software, further solidifying its strategy.
Volvo Cars Reports Second-Quarter Results
Volvo Cars reported second-quarter earnings before interest and taxes of 5 billion Swedish krona, a decrease compared to the same period last year.
The company highlighted a strong sales performance in electric cars, with fully electric Volvo models accounting for 16% of its total sales.
Volvo Cars aims to have all its cars fully electric by 2030, phasing out internal combustion engine vehicles.
Supply Chain Challenges
The automotive industry has faced supply chain challenges and rising material costs for electric vehicle production.
Volvo Cars CEO Jim Rowan discussed the current state of supply chains, mentioning the stabilization of lithium prices and improved availability of semiconductors.
Despite the challenges, Volvo Cars increased its manufacturing output by over 50% compared to the previous year.
The company also highlighted the impact of COVID-19 lockdowns on its operations, particularly in Shanghai.
