GREENSBORO, N.C. — Volvo announced today it has invested, through its Volvo Group Venture Capital subsidiary, in truck platooning pioneer Peloton Technology.
Peloton has developed an integrated safety, efficiency and analytics platform that builds upon advanced collision mitigation and adaptive cruise control technologies, to allow truck platooning. It electronically couples trucks through a combination of vehicle-to-vehicle communications, radar-based active braking systems and proprietary vehicle control algorithms.
This allows for improved safety and fuel savings for the lead and following trucks, according to the company.
“Peloton Technology has assembled a stellar team and developed a technology-based platooning solution with the potential to save a significant amount of fuel and also increase safety for fleets,” said Jonas Landstrӧm, investment director and head of the Americas for Volvo Group Venture Capital. “Volvo Group Venture Capital is focused on partnering with companies that help our customers increase their bottom line through technology-based solutions.”
A study of the system by the North American Council for Freight Efficiency and a major fleet, showed the lead truck improved fuel economy by more than 4% while the following vehicle saved 10%.
“The societal demand for reduced traffic congestion, as well as improved safety on our nation’s highways, will continue to drive the need for innovative advanced technologies, such as platooning,” said Stephen Roy, president of Mack Trucks North America. “Mack has had a longstanding commitment to maximizing the efficient transportation of freight, reducing the environmental footprint through alternative-fuel vehicles and the purposeful integration of technology and people.”
“Volvo Trucks has long been a leader in offering advanced technology to our customers, and we were the first OEM to lead a platoon,” added Gӧran Nyberg, president of Volvo Trucks North America. “We look forward to working with Peloton Technology as they work on a platooning solution that will improve safety and fuel efficiency, while also combatting the costs associated with congestion.”