A press statement from Volvo indicates the deal is part of offering electric vehicle solutions to customers. According to Volvo, the deal has no significant impact on the group’s earnings or financial position. Volvo Venture Capital Investment Director Erik Johansson says the partnership is in line with the demand for electric vehicles.
Ongoing pilot project
Furthermore, Driivz has rolled out a pilot project in partnership with Volvo Trucks and Volvo Group. The project is part of meeting the charging specification of electric truck customers. Driiz CEO Doron Frenkel says: The press statement adds the Volvo Venture Capital branch is rolling out strategic investments in sectors with growth potential. The group’s focus is currently on logistics services, site solutions, and electrical infrastructure. The Driivz platform software integrates with charging points and electric vehicle fleets. Its solutions serve customers in the utility, oil and gas, and automotive industries and among charging network operators. In 2020, Volvo also invested in a blockchain firm Circulor through its venture capital investment arm, Volvo Cars Tech Fund. The partnership will help both companies to explore ways of harnessing blockchain technology to improve Volvo’s products.
