News Summary

Toronto-based autonomous vehicle startup Waabi has entered into a strategic partnership with Swedish automaker Volvo to develop and deploy self-driving trucks. This collaboration aims to integrate Waabi’s virtual driver system into Volvo’s autonomous truck model, the Volvo VNL Autonomous. The trucks will be manufactured in Volvo’s New River Valley, Virginia factory and are set to begin testing this year. Waabi founder and CEO Raquel Urtasun described this partnership as crucial for scaling autonomous trucking solutions. The collaboration includes a “driver-as-a-service” business model, allowing Waabi and Volvo to sell trucks with private routes on a per-mile basis. This deal is not exclusive, as Waabi looks to partner with other original equipment manufacturers in the future. Waabi has raised significant funding from investors like Volvo Group Venture Capital, BDC Capital, and Uber Freight. The company is focused on a strategy called “AV 2.0,” which leverages generative AI and virtual training to develop self-driving technology more efficiently and safely.