Volvo-Plug and Play Join Forces to Discover Advanced Technology Startups

Volvo Cars and Plug and Play announced on the 4th that they have formed a partnership for advanced technology development. As the first outcome of the collaboration, a new innovation platform was established in Gothenburg, Sweden.

Plug and Play is the world's largest global accelerator that helps leading companies worldwide connect strategically with selected startups. It has successfully nurtured global startups such as Dropbox, Paypal, Trulioo, and Rappi. It manages an ecosystem consisting of over 50 regions worldwide, more than 50,000 startups, and over 500 partners.

Volvo Cars entered into this partnership to lead the rapidly changing automotive industry. This includes a future of mobility that is fully electrified by 2030, software-defined, driven by cutting-edge core computers, and capable of being upgraded over time through wireless software updates.

Accordingly, Volvo Cars has become a founding partner of the new platform, which is expected to involve more than 500 startups annually. Volvo Cars will begin the partnership through its corporate venture capital organization, the Volvo Cars Tech Fund.

Javier Varela, Chief Operating Officer (COO) of Volvo, said, "Volvo Cars is striving to overcome the current technological limitations for sustainable mobility," adding, "We expect the partnership with Plug and Play to bring us closer to the goals we desire."

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