Autoliv, Volvo Sign Final Agreement for Joint Venture
Jan. 3, 2017—Autoliv and Volvo have signed a final agreement regarding the formation of a joint venture to develop software for autonomous driving and driver assistance systems.
The joint venture, named Zenuity, will create a new entrant in the growing global market for autonomous driving software systems. This will mark the first time a leading premium car maker has joined forces with a tier-one supplier to develop new advanced driver assist systems (ADAS) and autonomous driving technologies.
As part of the agreement, Autoliv will make a total investment of around 1.1 billion SEK into the joint venture, the large majority of which is an initial cash contribution. Volvo will also contribute certain assets to the joint venture.
Autoliv and Volvo will own the joint venture 50/50.