Automotive safety systems company Autoliv, Inc. announced that its new electronics spin-off company will be named Veoneer. Veoneer’s ambition is to be a leading system supplier for ADAS and autonomous driving as well as a market leader in automotive safety electronics products.
When publicly listed, Veoneer’s offering will include safety electronics, sensors and software for active safety, advanced driver assistance systems (ADAS) and autonomous driving (AD) as well as advanced brake control solutions.
After the spin-off, Autoliv’s current Passive Safety segment will continue to operate under the Autoliv name, with continued listings on the New York Stock Exchange and Nasdaq Stockholm.
The spin-off is expected to be completed during the third quarter of 2018 subject to market, regulatory and certain other conditions, including approval by Autoliv’s Board of Directors.