ZF Increases Investment In Oxbotica To Develop Autonomous Vehicle Technology

JAKARTA - German auto industry supplier ZF Friedrichshafen AG will invest in British autonomous vehicle software startup Oxbotica to jointly develop a pod-like transport driving system that will be able to transport people and goods.

ZF takes a 5% stake in Oxford-based Oxbotica and will sit on its advisory board, the two companies said on Thursday, October 7. Financial details of the shares were not disclosed.

The investment is the latest in a series of deals and projects ZF, which has 2020 revenues of 32.6 billion euros (IDR 534 trillion) and has announced its goal of helping the German car supplier increase its expertise in autonomous driving technology.

"Together with Oxbotica, we are developing self-driving systems for autonomous people and cargo movers to address today's challenges in public transport and logistics," said ZF executive vice president for autonomous mobility systems, Torsten Gollewski in a statement. Reuters. The pair have also been working together on the project since 2019.

Earlier this year, British online grocery store Ocado (OCDO.L) said it would invest £10 million in Oxbotica as part of a tie-up aimed at reducing long-distance shipping costs.

In recent months, companies or startups that have the expertise and technology of self-driving and autonomous car developers continue to be targeted by large automotive companies. They are bought or acquired so that the big automotive companies have the technology in the startup.

This marks the various expansions of many companies to continue to develop autonomous cars in the world. In the future, the competition for autonomous vehicle technology will be more attractive with the entry of large companies to fund startups that have this rare technology.