Veoneer given US$1.2bn ‘fire power’ for M&A

Veoneer may not have officially launched yet but it has already secured a promising new supply contract from Geely and tucked aside a hefty sum for M&A activity. The new supplier, which bundles together Autoliv's Electronics business activities, will become a separate, independent publicly traded company early in the third quarter this year. The remaining businesses around passive safety will continue to operate under the Autoliv name. In what is very likely the last earnings call of Autoliv, Inc. as it currently stands, management confirmed their bullish outlook for the emerging new company.