Veoneer to focus on core electronics business, exit brake control business
Swedish supplier signs nonbinding agreement with an automotive supplier to divest its yet-to-be-launched brake control program in the United States
Veoneer has decided to focus on its core electric business and exit from the brake control business, the Sweden-based automotive supplier said in a press release on 23 April. The company has signed a non-binding agreement with an automotive supplier to divest its yet-to-be launched brake control program in the United States for purchase price of just USD1. The new owner will take over the entire team which will be able to continue to work on important programs.
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