Jun 26, 2020 - Economy & Business

Waymo and Volvo to develop electric robotaxi

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.

Go deeper (1 min. read)Arrow
Axios
Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 12 p.m. ET: 30,241,377 — Total deaths: 947,266— Total recoveries: 20,575,416 — Map.
  2. U.S.: Total confirmed cases as of 12 p.m. ET: 6,681,251 — Total deaths: 197,763 — Total recoveries: 2,540,334 — Total tests: 91,546,598 — Map.
  3. Politics: Trump vs. his own administration on virus response.
  4. Health: Massive USPS face mask operation called off — The risks of moving too fast on a vaccine.
  5. Business: Unemployment drop-off reverses course — 1 million mortgage-holders fall through safety net — How the pandemic has deepened Boeing's 737 MAX crunch.
  6. Education: At least 42% of school employees are vulnerable.
Go deeper (<1 min. read)Arrow
Joann Muller, author of Navigate
1 hour ago - Economy & Business

Anxious days for airline workers as mass layoffs loom

Sara Nelson, president of the Association of Flight Attendants, during a Sept. 9 protest outside the Capitol. Photo: Alex Wong/Getty Images

The clock is ticking for tens of thousands of anxious airline employees, who face mass reductions when the government's current payroll support program expires on Sept. 30.

Where it stands: Airline CEOs met Thursday with White House Chief of Staff Mark Meadows, who said President Trump would support an additional $25 billion from Congress to extend the current aid package through next March.

Go deeper (2 min. read)Arrow