The second part will focus on the continued development and commercialisation of advanced driver assistance systems and will be integrated into automotive safety equipment company Veoneer.
Zenuity is currently a 50-50 joint venture between Volvo Cars and Veoneer. Under the joint ownership, Zenuity has developed a software platform for advanced driver assistance and autonomous driving systems which both parts will now continue to build upon and further develop. As part of the agreement, Zenuity’s operations and staff 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 USA will be transferred to Veoneer.
Volvo Cars’ part of Zenuity will focus on development of unsupervised autonomous drive software that will be introduced in the next generation of cars based on Volvo’s SPA2 vehicle architecture. The new company will remain separate from Volvo Cars and run its own distribution channels.
The new company is expected to become operational latest during the third quarter of 2020.