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.
Uber has just taken another detour on the way to an inevitable legal showdown. The ride-hailing service, valued at more than $60 billion in its latest funding round, on Thursday settled two class-action lawsuits claiming drivers in California and Massachusetts are employees rather than so-called independent contractors, agreeing to pay up to $100 million. But the Silicon Valley darling is only buying time.
Uber drivers are employees for which the company must pay social security contributions, a Swiss insurance agency has ruled, dealing a blow to the U.S. ride-hailing platform that says drivers are freelance contractors.