To focus on unsupervised autonomous drive software
Al-Futtaim Automotive’s exclusive distributor of Volvo in the UAE, Trading Enterprises, has 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 commercialisation of unsupervised autonomous drive software, which will be owned by Volvo Cars.
The second part will focus on the continued development and commercialisation of advanced driver assistance systems and will be integrated into Veoneer, the automotive safety equipment company.
As part of the agreement, Zenuity's operations and people based in Gothenburg, Sweden and Shanghai, China will be transferred to the new company to be owned by Volvo Cars.
The operations and people based in Germany and USA will be transferred to Veoneer.
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.
Håkan Samuelsson, chief executive at Volvo Cars said: “Volvo Cars is committed to introduce safe, unsupervised autonomous drive on highways with its next generation of cars. Allowing the new company to fully focus on this development will help us deliver on those ambitions.”
“The new company will develop safe and advanced autonomous drive software,” said Dennis Nobelius, Zenuity's chief executive.
The new company is expected to become operational latest during the third quarter of 2020.