Volvo teams up with Uber to produce driverless cars

Volvo said it was the beginning of what "both companies view as a longer-term industrial partnership."

FILE - In this Dec. 16, 2014, file photo a man leaves the headquarters of Uber in San Francisco. Uber and Volvo announced, Thursday, Aug. 17, 2016, a $300 million deal for Volvo to provide SUVs to Uber for autonomous vehicle research. Eventually the Volvo SUVs will be part of the self-driving fleet in Pittsburgh.(AP Photo/Eric Risberg, File)
FILE - In this Dec. 16, 2014, file photo a man leaves the headquarters of Uber in San Francisco. Uber and Volvo announced, Thursday, Aug. 17, 2016, a $300 million deal for Volvo to provide SUVs to Uber for autonomous vehicle research. Eventually the Volvo SUVs will be part of the self-driving fleet in Pittsburgh.(AP Photo/Eric Risberg, File)

HELSINKI (AP) — Volvo is teaming up with ride-sharing company Uber to develop next-generation driverless cars, in a $300 million project.

The Swedish car maker says it has signed an agreement with Uber to incorporate the latest know-how in autonomous driving technology. The vehicles will be made by Volvo Cars and purchased by Uber.

The two companies plan to use a Volvo base vehicle in the project with Uber adding its own self-developed autonomous driving systems.

Volvo Cars CEO Hakan Samuelsson said Thursday they were proud to be picked by Uber, which he called “one of the world’s leading technology companies.”

Describing the alliance as a significant step in the automotive business in response to new technologies, Volvo said it was the beginning of what “both companies view as a longer-term industrial partnership.”

(Copyright 2016 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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