A self driving Volvo vehicle, purchased by Uber, sits in a parking lot in Phoenix, Arizona, U.S., December 1, 2017. Photo taken on December 1, 2017. REUTERS/Natalie Behring
Volvo Cars is betting driverless vehicles will make up one-third of its deliveries by the middle of the next decade, setting the auto industry’s most ambitious target yet for the new technology.
Half of the cars the Swedish company offers will be available through its subscription service, creating links to more than 5 million consumers and generating new sources of revenue, Volvo said Thursday in a business strategy update. It reiterated a target to match other luxury-auto makers’ profit margins, saying sales growth will be propelled in part by demand from robo-taxi operators.
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