February 28, 2018 / 2:24 PM / 18 days ago

Volvo Cars launches new fund for tech start-up investments

STOCKHOLM, Feb 28 (Reuters) - Sweden’s Volvo Car Group said on Wednesday it had launched a new investment fund seeking to invest in “high potential” technology start-ups.

* Says aim of fund, the Volvo Cars Tech Fund, is to invest in strategic technology trends that are transforming the industry, such as artificial intelligence, electrification, autonomous driving and digital mobility services

* Says first strategic investment as part of the Tech Fund is a seed round investment into a California-based technology firm developing advanced sensors

* Volvo Cars is owned by China’s Zhejiang Geely Holding Group

Link to statement: bit.ly/2F2tk29

Reporting by Johannes Hellstrom, editing by Helena Soderpalm

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