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Photo: Karol Serewis/SOPA Images/LightRocket via Getty Images

Waymo is teaming up with Volvo Cars to develop a self-driving electric vehicle platform for ride-hailing services.

Why it matters: Volvo, owned by China's Zhejiang Geely Holding Group, is the fourth major automaker to align with Waymo.

  • This partnership is different from the others, however, because instead of supplying cars to be outfitted with Waymo technology, the two companies will work together to design a new robotaxi platform.

The intrigue: Waymo will be Volvo's exclusive partner for Level 4 autonomy, but the deal won't affect Volvo's agreement to supply vehicles to Uber's Advanced Technology Group, which is also working on self-driving systems.

  • Of note: Volvo Cars, and its Chinese-Swedish sister brands, Polestar and Lynk & Co., are included in the Waymo partnership.

What they're saying:

  • "This key partnership with Volvo Car Group helps pave the path to the deployment of the Waymo Driver globally in years to come, and represents an important milestone in the highly competitive autonomous vehicle industry," said Adam Frost, Waymo's chief automotive officer.
  • "Our global partnership with Waymo opens up new and exciting business opportunities for Volvo Cars, Polestar, and Lynk & Co.," said Volvo's chief technology officer Henrik Green.

Waymo said it will continue working with Fiat Chrysler, Jaguar Land Rover and the Renault-Nissan-Mitsubishi alliance.

Go deeper

Dion Rabouin, author of Markets
Aug 5, 2020 - Economy & Business

Auto sales may have turned a corner

Illustration: Aïda Amer/Axios

U.S. auto sales have bounced back in recent months despite the coronavirus pandemic, with some brands even seeing their sales increase over 2019's numbers at this point in the year.

Why it matters: Cars and trucks were seen as one of the sectors that would be hardest hit as Americans were called to stay home from work and entertainment destinations were shuttered.

CCP releases two jailed Canadians after Huawei CFO deal with DOJ

Photo: Sheldon Cooper/SOPA Images/LightRocket via Getty Images

Two Canadians imprisoned by the Chinese government for over 1,000 days have been released and are expected to arrive in Canada on Saturday, Prime Minister Justin Trudeau said Friday.

Why it matters: Their release comes hours after Huawei Technologies CFO Meng Wanzhou reached a deal with the U.S. Department of Justice that resolves the criminal charges against her and could pave the way for her to return to China.

Updated 21 hours ago - Politics & Policy

Arizona GOP's private recount of 2020 election confirms Biden's win

Contractors working on behalf of the GOP examine and recount 2020 ballots at Arizona Veterans Memorial Coliseum in Phoenix in May. Photo: Courtney Pedroza/Getty Images

In an odd coda to the 2020 election, private contractors conducting a GOP-commissioned recount in Arizona confirmed President Biden’s win in Maricopa County.

Why it matters: The unofficial, party-driven recount has been heavily covered on cable news as part of former President Trump's continued effort to sow doubt about the election result.