Volvo and Autoliv have announced a new joint venture for autonomous driving.
Autoliv is a leader in automotive safety systems and according to Volvo, the jointly-owned company will focus on developing next-generation autonomous driving software. The plan is to have the new company’s headquarters in Gothenburg, Sweden and an initial workforce taken from both existing companies of around 200. In the medium term, the new company will grow to over 600 employees and it is expected to begin operations next year.
The new company has yet to be named, but will develop advanced driver assistance systems (ADAS) and autonomous drive (AD) systems for use in Volvo cars. Autoliv will also be able to sell the technology to automakers worldwide, with revenues shared by both companies.
The two companies expect to have their first ADAS products available for sale by 2019 with AD technologies available by 2021.
“There are no two companies that can claim to have done more for automotive safety worldwide than Autoliv and Volvo,” said Jan Carlson, chief executive and president of Autoliv. “This new company is a recognition of the fact that autonomous driving is the next step to transform road safety.”
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