Volvo makes strategic investment in DriveCam

Posted on February 13, 2013

Volvo Group Venture Capital, a subsidiary to the Volvo Group, made a strategic investment in DriveCam Inc., a global driver risk management company. Through the investment, Volvo Group becomes a minority shareholder in the company.

"Volvo Group and DriveCam have a common vision — to reduce traffic accidents worldwide," said Johan Carlsson, president of Volvo Group Venture Capital. "This strategic investment enables the commercial vehicle industry to benefit from our collaborative development efforts, while it also supports the Volvo Group’s vision to become the world leader in sustainable transport solutions.”

For several decades, Volvo Group has studied and analyzed a large number of accidents involving trucks. This information has been, and still is, one of the most important bases for the design and development of Volvo Group’s trucks. These investigations have resulted in numerous safety related improvements already in place in today’s trucks.

DriveCam prevents collisions and reduces fuel costs by improving the way people drive. DriveCam’s solution addresses the causes of poor driving by combining data and video analytics with real-time driver feedback and coaching.

Volvo Group Venture Capital is part of the Volvo Group. With the objective of accelerating new business growth, Volvo Group Venture Capital invests in companies driving service orientation and product differentiation in the transport industry.

Terms of the transaction were not disclosed.

View comments or post a comment on this story. (0 Comments)

More News

CTED workshop to focus on ADA requirements, small bus inspections

The course is instructed by Halsey King, a well renowned speaker and writer on maintenance and technology issues, that includes repair, inspection and management of vehicle fleets.

S.D. council softening stance against raising paratransit fares

The about-face came just six days after an internal audit of the city's public transportation system was released to the council. In it is a recommendation to raise paratransit rates to $2.50 a ride from the $2 fee riders have paid since 1996.

AC Transit, BART celebrates ADA's 25th anniversary, new paratransit office

Since the ADA’s signing in 1990, AC Transit and BART have worked to ensure disabled residents are able to enjoy the many benefits of public transportation. The two agencies joined together in 1994 to form the East Bay Paratransit Consortium.

Chicago Pace's draft budget includes paratransit shortfall

A paratransit fare increase may be proposed to fill the gap; however, Pace Executive Director T.J. Ross acknowledged it would be very difficult for those riders to absorb.

Finding Out How Adults with Autism Get Where They Need to Go

A Rutgers study is first step toward making it easier for adults on the autism spectrum to use public transportation.

See More News

Post a Comment

Post Comment

Comments (0)

More From The World's Largest Fleet Publisher

Automotive Fleet

The Car and truck fleet and leasing management magazine

Business Fleet

managing 10-50 company vehicles

Fleet Financials

Executive vehicle management

Government Fleet

managing public sector vehicles & equipment


Work Truck Magazine

The resource for managers of class 1-7 truck Fleets

Schoolbus Fleet

Serving school transportation professionals in the U.S. and Canada

LCT Magazine

Global Resource For Limousine and Bus Transportation

Please sign in or register to .    Close