Volvo, Autoliv Finalize Autonomous Tech JV
Volvo Car Corp. and Autoliv Inc. have finalized their agreement to jointly develop software for autonomous driving and driver assistance systems (ADAS). The 50:50 venture will be called Zenuity and based in Gothenburg, Sweden.
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Volvo Car Corp. and Autoliv Inc. have finalized their agreement to jointly develop software for autonomous driving and driver assistance systems (ADAS).
Their 50:50 venture will be called Zenuity and based in Gothenburg, Sweden. Autoliv plans to invest about 1.1 billion krona ($120 million) into the joint venture, including some assets. Volvo will contribute intellectual property and human resources but no cash.
Both companies will license and transfer the intellectual property for their ADAS systems to the joint venture. Zenuity then will develop new ADAS and autonomous technologies. The goal is to have the first driver assistance products available for sale by 2019, followed early next decade by autonomous driving systems.
Volvo will buy products directly from Zenuity but won’t have exclusive rights to them. Autoliv will be the exclusive supplier and distribution channel for sales to third parties.
In addition to Gothenburg, Zenuity will have operations in Munich and Detroit. As previously announced, Dennis Nobelius will be the CEO of the new company. He had been the managing director of Volvo’s operations in Switzerland.
The companies signed the original letter of intent last September. Operations are expected to start in the first half of 2017.
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