Zenuity, the Volvo Cars and Autoliv joint venture, starts operations
18 April 2017
18 April 2017
Zenuity, the joint venture between Volvo Cars and Autoliv, has started its operations. Zenuity is a new entrant in the market for autonomous driving software systems and marks the first time a premium carmaker has joined forces with a tier one supplier to develop advanced driver assist systems (ADAS) and autonomous driving (AD) technologies.
Autoliv will make a total investment of around 1.1 billion SEK (€114.5 million) into the joint venture, the large majority of which is an initial cash contribution, but it also includes intellectual property, know-how and personnel. At the same time, Volvo Cars will contribute intellectual property, know-how and personnel into the joint venture. Volvo Cars and Autoliv own the joint venture 50/50, the formation of which was first announced in September 2016.
Both Volvo Cars and Autoliv license and transfer intellectual property for their ADAS systems to the joint venture. From this base, the joint venture will develop new ADAS products and AD technologies. Zenuity is expected to have its first ADAS products available for sale by 2019 with AD technologies following shortly thereafter.
′Volvo Cars combined its know-how with Autoliv’s to create a world leader in autonomous driving safety systems. With Zenuity starting operations we move a step closer to delivering this exciting technology,‘ said Håkan Samuelsson, president and CEO of Volvo Cars.
′Zenuity will enable us to deliver world leading, robust solutions for autonomous driving. The combined experience of Autoliv, the worldwide leader in automotive safety systems, and Volvo Cars, the premium car maker, will ensure solutions that meet the needs of car occupants in real life road conditions,’ said Jan Carlson, chairman, president and CEO of Autoliv.
′In the last nine months we have worked hard to get Zenuity started and I am very pleased that we are now ready to start operations. The initial interest from automakers in Zenuity is very encouraging and we look forward to being a leader in the development of the next generation of safer and more automated cars,‘ said Dennis Nobelius, CEO of Zenuity.
Photograph courtesy of Volvo Car Corporation