Zenuity to be split in two parts
Zenuity, an assisted and autonomous driving software development company, will be split into two parts to "maximize the potential of its developments to date." One part is a new standalone company focusing on the development and commercialization of unsupervised autonomous drive software, and it will be owned by Volvo Cars. The second part will focus on the continued development and commercialization of advanced driver-assistance systems (ADAS) and will be integrated into Veoneer, an automotive safety equipment company.
Zenuity is currently a 50-50 joint venture between the Volvo and Veoneer. As part of the agreement, its operations and people based in Gothenburg, Sweden and Shanghai, China will be transferred to the new company to be owned by Volvo Cars. The operations and people based in Germany and the U.S. will be transferred to Veoneer.
Volvo Cars’ part of the company will focus on the development of unsupervised autonomous drive software that will be introduced in the next generation of cars based on its SPA2 vehicle architecture. The new company will remain separate from Volvo Cars and run its own distribution channels.
“Volvo Cars is committed to introduce safe, unsupervised autonomous drive on highways with its next generation of cars,” said Håkan Samuelsson, Chief Executive at Volvo Cars. “Allowing the new company to fully focus on this development will help us deliver on those ambitions.”
“The new company will develop safe and advanced autonomous drive software,” said Dennis Nobelius, Zenuity’s Chief Executive. “We believe that in the future there will only be a limited number of global software platforms for autonomous driving. We intend to develop one of these winning platforms."
The new company is expected to become operational during the third quarter of 2020.
For more information, visit www.zenuity.com.