The companies will collaborate on the delivery of scalable ADAS and Autonomous Driving solutions.
AVCC is a global consortium driving industry consensus for automated and assisted driving computing.
Pekar will replace Mats Backman, who has decided to leave Veoneer to seek new opportunities.
The Mercedes-Benz GLE received top marks for its partially automated assistance system (SAE Level 2).
The parties entered into definitive agreements on July 1.
Veoneer begins production of its advanced sensing technology and software enabling the next generation of car safety.
Following a strategic review process launched in April 2019, the company has decided to exit the brake control business.
Both companies to pursue separate ADAS and autonomous driving strategies.
Veoneer’s scalable system has been developed to meet Euro NCAP 5-star safety rating.
This divestiture is the next step in the strategic review of Veoneer’s brake systems business.
Veoneer Joins Autonomous Vehicle Computing Consortium To Accelerate Development Of Autonomous Vehicles
Veoneer joins leading OEMs, Tier 1 suppliers and semiconductor companies, such as Arm, Bosch, Continental, DENSO, GM, NVIDIA, NXP, Renesas and Toyota, in their collaborative effort to accelerate the delivery of safe and affordable autonomous vehicles at scale.
The termination of the VNBS joint venture and the divestiture of the Japanese and Chinese entities are part of Veoneer’s previously announced market adjustment initiatives which are aimed at focusing Veoneer on its core businesses and providing an effective cost structure to address the current market and business situation in the company.