Volvo Invests in DriveCam

The Volvo Group has invested in DriveCam, a San Diego-based driver risk-management firm, and will become a minority shareholder in the company, the two said.

“Volvo Group and DriveCam have a common vision — to reduce traffic accidents worldwide,” said Johan Carlsson, president of Volvo Group Venture Capital.

“Complementary to our leading position in the global truck manufacturing market, Volvo Group is also focused on the human element in reducing accidents, an area where DriveCam is a clear leader,” Carlsson said in a statement.

DriveCam’s system addresses the causes of poor driving by combining data and video analytics with real-time driver feedback and coaching, resulting in reductions in collision-related costs and fuel consumption in more than 500 commercial fleets, the statement said.

Volvo has studied and analyzed a large number of accidents involving trucks for several decades and that information has been — and still is — one of the most important bases for the design and development of its trucks, the statement said.