Volvo Cars said it has agreed to supply Uber Technologies with a fleet of 24,000 self-driving taxis beginning in 2019--one of the first and biggest commercial orders for such vehicles.
The deal between Volvo, owned by China's Zhejiang Geely Holding Group, and Uber was disclosed as a framework agreement without financial terms. Such an order, though, would account for about 4.5% of
Volvo's current total sales, based on 2016 figures, and is estimated to be worth just over $1 billion, a person familiar with the situation said.
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