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Volvo, Autoliv to form autonomous-driving joint venture

By the end of the decade, there won't be a single company left that Volvo hasn't partnered with.

BENGALURU, INDIA - FEBRUARY 25: (Editor's Note: This is an exclusive shoot of Mint) Volvo logo visible at background wall of the reception area of office on February 25, 2015 in Bengaluru, India. (Photo by Hemant Mishra/Mint via Getty Images)
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AutoliVolvo? VolvoLiv? There's no good way to mash these two names together.

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Volvo is absolutely hauling when it comes to developing autonomous-car partnerships with other companies. Despite having already established some large partnerships, the company shows no sign of stopping. In fact, it'll actually be moving some of its employees over to another joint venture, this time with supplier Autoliv.

The two companies will create a joint venture that seeks to develop the next generation of autonomous-driving software, Reuters reports. Both companies are based in Sweden, and the new company will be headquartered there, as well. It's expected that the venture will begin with approximately 200 team members, with staffing coming from both companies. That number will eventually grow to about 600.

The company doesn't yet have a name, but it should start operations early in 2017. Autoliv will sell the technology the two companies develop, but both companies will receive a cut of the revenue. In addition to self-driving software, the pair will work on additional driver-assistance systems, as well. This won't benefit the two companies alone, as it's likely that several automakers will choose to buy software instead of developing their own.

Autoliv is a supplier that focuses on automotive safety systems, so developing autonomous-driving software is right up the company's alley. Volvo's been quite busy in this regard, as well, having recently established a $300 million partnership with Uber to put self-driving tech onto public roads this year.