The automobile manufacturer will part own Zenuity, the autonomous driving software development company
Trading Enterprises, one of the Al-Futtaim Automotive companies and the exclusive distributor of Volvo in the UAE recently announced that Volvo Cars will part own Zenuity, the assisted and autonomous driving software development company.
The company will be split into two parts to maximise the potential of Zenuity’s developments to date, with a new stand-alone company, focusing on the development and commercialization of unsupervised autonomous drive software, which will be owned by Volvo Cars.
The second part will focus on the continued development and commercialization of advanced driver assistance systems and will be integrated into Veoneer, the automotive safety equipment company.
Volvo Cars’ part of Zenuity will focus on 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 introduce safe, unsupervised autonomous drive on highways with its next generation of cars,” remarked Håkan Samuelsson, CEO, Volvo Cars.
“The new company will develop safe and advanced autonomous drive software. 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,” commented Dennis Nobelius, Chief Executive, Zenuity.
