The investment is the latest in a series of deals and projects that ZF has announced aimed at helping the German auto supplier enhance its expertise in autonomous-driving technologies.
see photosIn May, ZF and Intel Corp’s Mobileye unit said they would jointly develop advanced security systems
German automotive industry supplier ZF Friedrichshafen AG will invest in British autonomous vehicle software startup Oxbotica to jointly develop a driving system for a pod-like shuttle, capable of transporting people and goods. The two companies said on Thursday that ZF is taking a 5 percent stake in Oxford-based Oxbotica and will take a seat on its advisory board. Financial details of the stake were not disclosed.
The investment is the latest in a series of deals and projects that ZF, which had 32.6 billion euros ($37.7 billion) in 2020 revenue, has announced that it aims to help the German auto supplier increase its expertise in autonomous-driving technologies. To do.
The two companies said on Thursday that ZF is taking a 5 percent stake in Oxford-based Oxbotica and will take a seat on its advisory board.
“With Oxbotica, we are developing self-driving systems for autonomous people and cargo movers, addressing current challenges in public transportation and logistics,” said Torsten Golevsky, ZF’s executive vice president for Autonomous Mobility Systems. said in the statement.
He added that the pair have worked together on projects since 2019.
Earlier this year, British online grocer Ocado said it would invest 10 million pounds ($13.6 million) in Oxbotica, aimed at reducing last-mile delivery costs.
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In May, ZF and Intel Corp’s Mobileye unit said they would jointly develop advanced safety systems for Toyota Motor Corp — including automatic emergency braking, adaptive cruise control and lane keeping systems.
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