Volvo Cars and Veoneer, the automotive safety equipment company, have completed the process of dividing up Zenuity, the 50-50 joint venture focused on the development of assisted and autonomous driving software.
On April 2, Volvo Cars and Veoneer announced an intention to divide Zenuity, in order for each company to focus more effectively on their respective strategies.
Volvo Cars’ part of Zenuity will be transferred to a new stand-alone company, wholly owned by Volvo Cars. It will initially focus on the development of technology for Volvo Cars’ next generation modular scalable architecture SPA 2 that could over time fundamentally change road safety, including autonomous drive technology for motorways in the Highway Pilot.
The company will build upon and further develop the strong software platform for advanced driver assistance and autonomous driving systems developed by Zenuity in recent years.
The new company will continue acting independently within the Volvo Car Group. As part of the agreement, Zenuity’s operations and people based in Gothenburg, Sweden and Shanghai, China have been transferred to the new company.
The other part of Zenuity will be integrated into Veoneer and will focus on the continued development and commercialisation of advanced driver assistance.
SOURCE: Volvo Cars