Volvo and Uber announce $300 million joint venture to develop self-driving cars

(Retuers) — Volvo Car Group has agreed a $300 million alliance with Uber to develop self-driving cars, the latest move by traditional vehicle manufacturers to team up with Silicon Valley firms long seen as disruptive threats to their industry.
The partnership will see the Swedish-based carmaker, owned by China’s Geely, and ride-hailing service Uber pool resources into initially developing the autonomous driving capabilities of its flagship XC90 SUV. The investment will be roughly sha