Volvo to buy some assets of premium valet service Luxe in attempt to boost development of its digital services

Geely-owned Volvo Car Group said on Friday it would buy some assets of Luxe, a US-based premium valet, and concierge service, to boost the development of its digital services.

Luxe’s advanced software, technology platform, key data scientists, app developers and software engineers will join Volvo in the Silicon Valley, the automaker said.

San Francisco-based Luxe provides valet parking through an app. The deal is also expected to accelerate Volvo’s ability to offer services such as pick-up and drop, the automaker said.

Financial details of the transaction were not disclosed. Car-ride provider Uber Technologies Inc was said to be in advanced talks with Luxe to buy some of its assets, according to media reports in June.

Uber did not immediately respond to a request for comment.

As per previous reports , Swedish luxury car maker Volvo Cars had announced plans to start vehicle assembly operations in India this year. The assembly operations will be located near Bengaluru and focus on models based on Volvo’s SPA modular vehicle architecture, Volvo Cars said in a statement.The company will make use of Volvo Group India’s existing infrastructure and production licences near Bengaluru, it said without disclosing further contract and financial details.

It will work together with Volvo Group India, the truck, bus, construction equipment and Penta engines manufacturer, to set up its assembly operations in India, the company added.