The auto maker announced that it will begin investing in tech startups that will help it thrive in an electric and autonomous future

Volvo announced that it will start a venture capital fund to invest in startups working on tech it could use for the future of the auto industry. Amid environmental concerns and technological advancements leading to the rapid growth of electric engines and autonomous driving, Volvo's decision to bring innovative tech under its umbrella makes perfect sense.

Instead of trying to figure everything out in-house, the company looks to help others gain access to the resources they need to execute new ideas. Other car companies like General Motors and Toyota have already done the same.

Hopefully, dedicating a specific large sum to these startups will allow Volvo to adapt its cars faster than its competitors. The company reportedly has already invested in technology around self-driving cars and even flying vehicles.

Volvo


Lead Image: Volvo

Volvo announced that it will start a venture capital fund to invest in startups working on tech it could use for the future of the auto industry. Amid environmental concerns and technological advancements leading to the rapid growth of electric engines and autonomous driving, Volvo's decision to bring innovative tech under its umbrella makes perfect sense.

Instead of trying to figure everything out in-house, the company looks to help others gain access to the resources they need to execute new ideas. Other car companies like General Motors and Toyota have already done the same.