• Reuters, Monday, September 12, 2016 9:05 AM

Chinese-owned Volvo Car Group and auto safety group Autoliv said on Tuesday they would form a joint venture to develop autonomous driving software as automotive firms across the industry race to embrace the emerging technology. The two Sweden-based companies said in separate statements the new company would have an initial work force of about 200 staff taken from both parent companies, a number that would increase to more than 600 over the medium term. The joint venture, which is to be headquartered in Gothenburg, Sweden, and had yet to be named, will develop advanced driver assistance systems (ADAS) and autonomous drive (AD) systems for use in Volvo Cars.

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