Volvo Cars Silicon Valley Tech
Center has opened the doors to its new, state-of-the-art facility in
downtown Sunnyvale. The move, which almost triples the physical
presence of the Silicon Valley Tech Center, grows the Swedish
automaker’s initial foray into Silicon Valley established in September
2016.
The
expansion of the Tech Center is part of Volvo Cars’ overall strategy to
be a leader in the innovation transforming the automotive industry.
The new company purpose of “Freedom to Move” envisions a diverse
business model for Volvo Car Group as a global mobility company
expanding into opportunities beyond the realm of a traditional car
company.
The
company’s investment in Silicon Valley has grown to include build
capabilities across product development, business development, advanced
engineering, and most recently, a corporate venture arm to invest in
cutting-edge tech start-ups. “Our Silicon Valley Tech Center helps us
embrace technologies and market forces shaping a future that is
electrified, autonomous, and best of all, about so much more than
getting from point A to B. Our intention is to mobilize and connect
teams from Sweden to California to jointly deliver on this vision,”
said Atif Rafiq, Chief Digital Officer, Volvo Cars.
Silicon
Valley is a pivotal place for Volvo Cars to be, as it encompasses
several facets integral to automotive ingenuity. Break-throughs in
autonomous technology, alternative fuel sources such as electrification
and digital environments for customers are the norm in the tech hub and
will help propel the “Freedom to Move” vision of Volvo Cars.
The
automaker’s Silicon Valley Tech Center in Mountain View is the
birthplace of the automaker’s Tech Fund, which is earmarked for
companies developing pioneering ideas and concepts in the areas of
technology and mobility.
In
2018, Volvo Cars invested in Luminar, a leading start-up in the
development of advanced sensor technology for use in autonomous
vehicles, and most recently acquired a stake in electric car charging
company FreeWire Technologies, deepening the company’s commitment to a
fully electric future.
“We
seek to invest in companies that can provide us with strategic access
to new technologies, capabilities and talent,” said Zaki Fasihuddin.
“By supporting promising young firms at the forefront of technological
development and providing them with both capital and strategic value,
we aim to strengthen our leading role in the industry’s technological
transformation.”
The
innovation and generation of new ideas pulsing through Silicon Valley
is in direct line with the sensibilities and spirit of the Swedish
automaker.