Kongsberg Automotive (KA) announces today that it has, through its subsidiary Kongsberg Automotive AS, decided to exercise its call-option to acquire the remaining 75% of the shares in Chassis Autonomy SBA AB (CA). Following the transaction, KA will hold 100 % of the shares in CA and the transaction is planned to be completed this week. This acquisition marks a strategic bid on steer-by-wire and is the result of a long-standing and successful collaboration between the two companies.
The steer-by-wire market is projected to grow substantially over the next decade, with estimates reaching EUR 3.5 billion by 2035. Through this acquisition, KA aims to secure a meaningful share of this fast-expanding segment.
“This acquisition aligns well with our strategic ambitions and capabilities and will enhance our offering in the electric and autonomous vehicle market,” says Trond Fiskum, President & CEO of Kongsberg Automotive. “, We position KA for long-term growth within fast growing product and market segments and reinforce our commitment to innovation, sustainable mobility, and to create value for our shareholders.”
CA will continue its operations in Trollhättan, Sweden, and the acquisition ensures continuity for employees and customers, while unlocking new opportunities through KA’s global reach and resources.
“We have had a close and constructive partnership with KA for several years, and I am very pleased to now welcome them as our new owners, “ says Peter Johansson, Founder and CEO of CA. “This is a strong vote of confidence in our business, our people, and our future.”
SOURCE: Kongsberg Automotive
