Volvo Cars, Veoneer agree to restructure Zenuity JV
Two partners agree to split their 50:50 JV over three years after its establishment
Volvo Cars and Veoneer have entered into a nonbinding agreement to split their 50:50 automated driving JV, Zenuity, the two companies said in separate press releases on 2 April. As part of the agreement, Veoneer will integrate and operate the current business of the JV is focused on the development and commercialization of advanced driver assistance systems (ADAS) software for collaborative driving. Volvo Cars will establish a new standalone company to take over Zenuity’s business focused on the development and commercialization of fully automated autonomous driving software.