Assisted and autonomous driving software development company, Zenuity, currently a 50-50 joint venture between Volvo Cars and Veoneer, will be split into two parts to maximize the potential of Zenuity’s developments to date.
One part is a new stand-alone company, focusing on the development and commercialization of unsupervised autonomous drive software, and will be owned by Volvo Cars.
The second part will focus on the continued development and commercialization of advanced driver assistance systems and will be integrated into Veoneer, the automotive safety equipment company.
Under the joint ownership, Zenuity developed a strong software platform for advanced driver assistance and autonomous driving systems upon which both parts will now continue to build and to develop further.
As part of the agreement, Zenuity’s operations and people 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.