Volvo Cars sets ambitious target for robo-taxis

Volvo Cars is betting driverless vehicles will make up one-third of its deliveries by the middle of the next decade, setting the auto industry’s most ambitious target yet for the new technology. Half of the cars the company offers will be available through its subscription service, creating links to more than 5 million consumers and generating new sources of revenue, Volvo said on Thursday. It reiterated a target to match other luxury automakers’ profit margins, saying sales growth will be propelled in part by demand from robo-taxi operators.