Join our community of traders FOR FREE!

  • Learn
  • Improve yourself
  • Get Rewards
Learn More

Oxbotica, a self-driving software startup company, said earlier this week that it had partnered with AppliedEV in relation with development of a fully autonomous multi-purpose vehicle that could be put to a range of commercial uses.

The self-driving electric vehicles will first be deployed in industrial logistics and automated goods delivery.

In April, UK online grocer Ocado announced a GBP 10 million ($13.8 million) investment in Oxbotica as part of a partnership that was expected to result in a lower cost of last-mile delivery and other logistics.

“We are really excited and supportive of this collaboration between Oxbotica and AppliedEV as we see it as an important step on our journey to developing advanced autonomous mobility solutions for the Ocado Smart Platform,” Alex Harvey, head of advanced technology at Ocado Technology, said in a statement.

Autonomous EV maker AppliedEV, which was established by former Tesla Inc and General Motors Co executives, is to provide the EV platform for the vehicle, the companies said.

According to Julian Broadbent, the Chief Executive Officer of AppliedEV, the tie-up could produce “strong commercial outcomes” in as little as 12 months.

TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover Forex, Price Action and Social Trading.

Related News

  • Forex Market: EUR/CHF daily outlookForex Market: EUR/CHF daily outlook During yesterday’s trading session EUR/CHF traded within the range of 1.2171-1.2205 and closed at 1.2182.At 6:14 GMT today EUR/CHF was gaining 0.01% for the day to trade at 1.2184. The pair touched a daily high at 1.2186 at 5:35 […]
  • GBP/JPY trades near 92-month high as UK GDP growth exceeds estimatesGBP/JPY trades near 92-month high as UK GDP growth exceeds estimates The GBP/JPY currency pair traded in proximity to a fresh 92-month peak on Friday, after preliminary figures showed the British economy had expanded at a faster rate than anticipated in the second quarter.UK GDP grew 0.2% […]
  • Forex Market: GBP/JPY daily trading forecastForex Market: GBP/JPY daily trading forecast Yesterday’s trade saw GBP/JPY within the range of 193.04-193.94. The pair closed at 193.85, up 0.11% on a daily basis, while marking a fourth consecutive trading day of gains. The daily rate of increase has been the most modest one since June […]
  • GBP/USD rebounds from seven-week lows after UK construction activity acceleratesGBP/USD rebounds from seven-week lows after UK construction activity accelerates The pound rebounded from a seven-week low against the US dollar, after a report showed that a gauge of UK construction activity surged to 6-1/2-year high.GBP/USD hit a seven-week low at 1.6258 at 06:10 GMT, after which the pair erased […]
  • Nintendo names Tatsumi Kimishima as presidentNintendo names Tatsumi Kimishima as president Nintendo Co Ltd promoted on Monday Tatsumi Kimishima, a former banker who has also led Nintendos North American operations, to president, filling the top spot left vacant by longtime President Satoru Iwata who died of cancer in July.Mr. […]
  • GBP/USD rebounds from 12-week low with focus on Fed, BoEGBP/USD rebounds from 12-week low with focus on Fed, BoE The GBP/USD currency pair rebounded from yesterday's 12-week low of 1.2834 on Thursday - a level it touched after Republican Donald Trump’s victory in the US presidential election.Meanwhile, market focus now shifts towards major central […]