Zenuity, an assisted and autonomous driving software development company, has announced that it will be split into two parts to maximise the potential of Zenuity’s developments to date. One part will become a new stand-alone company, focusing on the development and commercialisation of unsupervised autonomous drive software, and will be owned by Volvo Cars.
The second part of the company will focus on the continued development and commercialisation of advanced driver assistance systems (ADAS) and will be integrated into Veoneer, an automotive safety equipment company. The new company structure is expected to become operational during the third quarter of 2020.
Zenuity is currently a 50:50 joint venture between Volvo Cars and Veoneer. Under the joint ownership, Zenuity has developed a software platform for ADAS and autonomous driving systems, which both parts of the new corporate entity will now continue to build upon and further develop.
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 the 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.
“Volvo Cars is committed to introducing safe, unsupervised autonomous drive on highways with its next generation of cars,” said Håkan Samuelsson, chief executive at Volvo Cars. “Allowing the new company to fully focus on this development will help us deliver on those ambitions.”
“The new company will develop safe and advanced autonomous drive software,” added Dennis Nobelius, Zenuity’s chief executive. “We believe that in the future there will only be a limited number of global software platforms for autonomous driving. We intend to develop one of these winning platforms.”
