This content is not available in your region

ZF invests in Oxbotica to develop autonomous urban shuttles

ZF invests in Oxbotica to develop autonomous urban shuttles
ZF invests in Oxbotica to develop autonomous urban shuttles   -   Copyright  Thomson Reuters 2021
By Reuters

By Nick Carey

LONDON – German automotive industry supplier ZF Friedrichshafen AG will invest in British autonomous vehicle software startup Oxbotica to jointly develop driving systems for pod-like shuttles which will be able to transport people and goods.

ZF is taking a 5% stake in Oxford-based Oxbotica and will take a seat on its advisory board, the two companies said on Thursday. Financial details of the stake were not disclosed.

The investment is the latest in a series of deals and projects that ZF, which had 2020 revenue of 32.6 billion euros ($37.7 billion), has announced that are aimed at helping the German auto supplier bolster its expertise in autonomous-driving technologies.

“Together with Oxbotica, we are developing self-driving systems for autonomous people and cargo movers addressing the current challenges in public transport and logistics,” ZF executive vice president for autonomous mobility systems Torsten Gollewski said in a statement.

The pair have worked together on projects since 2019, they said.

Earlier this year, British online grocer Ocado said it would invest 10 million pounds ($13.6 million) in Oxbotica as part of a tie-up aimed at reducing last-mile delivery costs.

In May, ZF and Intel Corp’s Mobileye unit said they will jointly develop advanced safety systems – including automatic emergency braking, adaptive cruise control and lane keeping systems – for Toyota Motor Corp.

($1 = 0.7361 pounds)