Volvo aims to achieve $3 billion in revenue from its autonomous truck business in five years.
Volvo AB expects autonomous transportation to become a significant business, with revenue approaching $3 billion over five years, as the company prepares to begin operating self-driving trucks on U.
S. highways in the first quarter, Bloomberg reports.
Nils Jaeger, head of Volvo's autonomous vehicles division, said the group aims to launch more than 300 autonomous trucks by the end of 2027, and called Volvo a "pioneer" ready to scale. This action plan is by far the clearest signal from Volvo of its intention to turn autonomous freight transportation into an engine of commercial growth at a time when investor interest in unmanned freight transportation is growing, as evidenced by the debut of Swedish startup Einride in the U.
S. market. Volvo claims that autonomous trucks can improve fleet economics by operating outside of legal restrictions for human drivers, potentially doubling vehicle usage, alleviating chronic driver shortages and increasing productivity. These goals were presented together with broader ambitions to grow Volvo's business in trucks and construction machinery.
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