Veoneer and Volvo Vehicles to separate Zenuity software program three way partnership

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STOCKHOLM (Information) – Geely-owned Volvo Vehicles and auto tech provider Veoneer will break up up their collectively owned software program enterprise Zenuity, the businesses stated in separate statements on Thursday.

Underneath the settlement, Veoneer will combine and function the present Zenuity enterprise centered on growth and commercialization of superior driver help system (ADAS) software program.

Volvo Vehicles will arrange a brand new stand-alone firm to take over Zenuity’s present growth and commercialization of unsupervised autonomous drive software program.

Reporting by Johannes Hellstrom; modifying by Jason Neely