Volvo Has a Strong Bet On Autonomous Cars and Subscription Service

Autonomous cars, for many of their future passengers, are a welcome and interesting prospect. With companies like Volvo pushing its chips firmly behind this being the future of one-third of its business. Active demonstrations and tests for autonomous cars have been ongoing for the last couple of years. And while there have been some setbacks on the road, there are few pit-stops between now and 2021.

Volvo is so confident in this future that it’s dedicating more than half of its future fleet to the gamble. In doing so, it believes that it will obtain access to an, as yet, untapped area of the driving market. It becomes far less of a gamble when you consider that companies both on and off the blockchain are positioning themselves to make the same bet.

Volvo dedicates half of its cars to autonomous subscription service

Through dedicating half of its future fleet, Volvo believes that it can unlock a market with approximately 5 million consumers waiting for such a product. It’s not hard to see where this would be a safe bet; Companies like DOVU and DAV are making the same bet. Believing that autonomous cars are a highly lucrative market to take advantage of.

So far, the bet is paying dividends, with the company’s sales rising by 7% as of last year, comprising 571,577 vehicles. CEO of the company, Hakan Samuelsson has reiterated the importance of this growing market:

“These initiatives will help transform Volvo from being purely a car company to being a direct consumer-services provider.”

This week has seen more than just Samuelsson come forward with a UK battle plan for automated cars. With the likes of Waymo and Fiat-Crysler putting their chips down on this incredible active roulette table.