On September 10, 2024, Volvo Group Venture Capital revealed its investment in aifleet, a company founded in 2020 that operates within the U.S. full truckload (FTL) transportation market. Aifleet leverages AI-based technology to optimize route planning and scheduling. According to the company, its algorithms can increase truck utilization by more than 40% compared to the industry average.
Marc El Khoury, co-founder and CEO of aifleet, emphasized the technology’s role in creating a more sustainable fleet. “The FTL market in the U.S. is inefficient and fragmented, with around 500,000 carriers, and even the largest controls less than 1% of the market. We have developed technology that addresses utilization issues, drastically improving trucking efficiency,” he said. While Volvo Group Venture Capital’s investment in aifleet will not significantly impact the group’s earnings or financial position, it sends a clear message of the Swedish giant's commitment to fostering innovation in the trucking industry.
