Volvo Cars, Plug and Play open innovation platform in Gothenburg
Swedish automaker Volvo Cars and Silicon Valley’s innovation centre Plug and Play have opened an innovation platform in Gothenburg.
The platform will focus on forging innovations in sustainability and digital mobility. It will allows Swedish firms to connect with startups developing potential technology to solve future challenges.
The the innovation platform is part of a joint effort to produce more breakthroughs in sustainable mobility in the Scandinavian region. Volvo and Plug and Play expect the platform to engage over 500 startups annually, saying additional partners will join the venture over time.
“To stay on top of the transformation needed to achieve our bold ambitions, we’re continually pushing the boundaries of technology.”
Javier Varela, Chief Operating Officer and Deputy CEO of Volvo Cars
This initiative aligns with Volvo’s target to be fully electric by the end of this decade. Volvo chief operating officer and deputy CEO Javier Varela said the company needed to push for innovation to achieve its ambitions.
“To succeed, we need to work with the best, and partnering with Plug and Play certainly brings us closer to our aspired position,” Varela said.
Volvo establish the partnership through its venture capital division, the Volvo Cars Tech Fund. In addition to the Plug and Play collaboration, Tech Fund has made strategic investments in numerous startups focusing on future transportation on mobility. Volvo’s investment in Luminar, for example, resulted in the lidar technology installed in its flagship seven-seater Volvo EX90.
Plug and Play founder and CEO Saeed Amidi said his company was “very pleased” to work with Volvo. According to Amidi, Gothenburg is “literally packed” with tech-savvy firms. He expressed his confidence that the new platform would become an “innovation powerhouse” for startups.
Plug and Play has helped blue-chip firms in various countries form partnerships with startups since its foundation in 2006, boasting alums like Dropbox and Paypal. It has more than 50 locations around the globe and oversees over 50,000 startups. The company focuses on various sectors, including mobility, energy, and new materials.
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