ZF invests in Oxbotica to develop autonomous urban shuttles

- Advertisement -


LONDON, Oct 7 (Businesshala) – German automotive industry supplier ZF Friedrichshafen AG will invest in British autonomous vehicle software startup Oxbotica to jointly develop a driving system for pod-like shuttles capable of transporting people and goods.

- Advertisement -

ZF is taking a 5% stake in Oxford-based Oxbotica and will take a seat on its advisory board, both companies said on Thursday. Financial details of the stake were not disclosed.

- Advertisement -

The investment is the latest in a series of deals and projects that ZF, which had 32.6 billion euros ($37.7 billion) in 2020 revenue, has announced that it aims to help the German auto supplier enhance its expertise in autonomous-driving technologies. is to help.

“With Oxbotica, we are developing self-driving systems for autonomous people and cargo movers, addressing current challenges in public transportation and logistics,” said Torsten Golevsky, ZF’s executive vice president for Autonomous Mobility Systems. said in the statement.

- Advertisement -

He added that the pair have worked together on projects since 2019.

Earlier this year, British online grocer Ocado (OCDO.L) said it would invest 10 million pounds ($13.6 million) in Oxbotica, aimed at reducing last-mile delivery costs.

In May, ZF and Intel Corp’s (INTC.O) Mobileye unit said they would jointly develop advanced safety systems for Toyota Motor Corp (7203.T) — including automatic emergency braking, adaptive cruise control and lane keeping systems. Huh.

($1 = 0.7361 pound)

Reporting by Nick Carey; Editing by Ellen Hardcastle

.

- Advertisement -

Stay on top - Get the daily news in your inbox

DMCA / Correction Notice

Recent Articles

Related Stories

Stay on top - Get the daily news in your inbox