Autoliv and Volvo Cars create a joint venture, which will deal with the technology of Autonomous driving
Autoliv company specializing in the development of security technology for the automotive industry and Volvo Cars, producing cars, has signed a statement of intent to create a joint venture. It will develop software for next generation self-driving cars.
The headquarters of the JV will be located in Gothenburg. The staff of the company in the amount of 200 people will initially be formed from the employees of Autoliv and Volvo Cars. In the medium term it will be increased to 600. It is expected that SP will be up in early 2017. It will be called is still unknown.
Objective of the joint venture called development of driver assistance systems (ADAS) and Autonomous driving (AD). Volvo Cars will use them in their vehicles and Autoliv will have exclusive rights to sell to other automakers worldwide. Income from sales will be distributed among the joint venture participants. The first ADAS system needs to be ready in 2019, the product categories AD — 2021.