Autoliv And Volvo Cars Autonomous Driving JV Zenuity Starts Operations

(RTTNews) - Zenuity, the joint venture between Autoliv Inc. (ALV) and Volvo Cars, starts its operations today. Zenuity is a new entrant in the growing global market for autonomous driving software systems. It marks the first time a premium car maker has joined forces with a tier one supplier to develop leading advanced driver assist systems or ADAS and autonomous driving or AD technologies.

At today's closing, 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, 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. As previously announced, Autoliv and Volvo Cars own the joint venture 50/50. The formation of the joint venture was first announced in September 2016.

Zenuity is expected to have its first ADAS products available for sale by 2019 with AD technologies following shortly thereafter.