February 13, 2013
DriveCam, Inc. announced Wednesday Volvo Group Venture Capital, a subsidiary to the Volvo Group, has made a strategic investment in DriveCam, a global driver risk management company.
Johan Carlsson, President of Volvo Group Venture Capital, says the investment – which makes Volvo Group a minority shareholder in the company – enables the commercial vehicle industry to benefit from collaborative development efforts in driver safety and accident reduction.
“Since the human element plays a role in nine out of 10 accidents, the driver risk management solutions that DriveCam has pioneered are essential to both companies reaching our common goal of zero accidents on the road,” DriveCam Chairman and CEO Brandon Nixon says.
Volvo Group says it has studied and analyzed a large number of accidents involving trucks for decades and used the information as bases for the design and development of the group’s trucks. These investigations, the company says, have resulted in numerous safety related improvements already in place in today’s trucks.