Veoneer and Volvo Cars to split joint venture to pursue separate ADAS and autonomous driving strategies
(WorldNews Sweden)

Stockholm, Sweden, April 2, 2020: The automotive technology company Veoneer, Inc. (NYSE: VNE and SSE: VNE SDB), have following a strategic review, entered into a non-binding agreement with Volvo Cars to split their 50/50 joint venture Zenuity. The parties have agreed in principle that Veoneer will integrate and operate the current Zenuity business focused on the development and commercialization of advanced driver assistance system (ADAS) software for collaborative driving. Volvo Cars will setup a new stand-alone company to take over Zenuity`s current development and commercialization of unsupervised autonomous drive software (AD). According to Veoneer`s estimates, in the next decade more...