At the beginning of January 2017, a new company formally was started. It is named Zenuity, it will be headed by Dennis Nobelius, and it was created together by Volvo Cars and Autoliv companies. The formal organization time is January but the fully operational power will be started somewhere in the first half of 2017 after all official issues and agreements will be settled.
They will operate in several countries, Germany, Sweden, and the US, and will have at the start somewhere 200 employees but in the mid-range term, they have plans to increase their staff number to 600, actively employing engineers.
At the fall of 2016, companies reached the preliminary agreement of starting a new venture that would develop a new or advanced set of driverless and driving assistance technologies. Zenuity’s contribution to the fast-growing market of driverless technologies is projected to be significant, as currently, this company occupies a share around 40% of the global sales of airbags. Zenuity has plans to unfold the ready-to-sell technology on assisting drivers to 2019 with the driverless technologies as the next step, which date isn’t uncovered yet.
Since the beginning of rapid advancement of driverless technologies, Autoliv company also did other investments or acquisition of companies that are engaged in the active and passive safety of driving, as Autoliv has already been involved in the search and developments in the named areas. These areas include such fields of expertise:
• radars that are able locate the distances from a car to other cars in front, rears, and back, as well as to other objects on the roads.
• machine vision is a set of cameras and the software that is capable of recognizing the moving and still objects on the road – like road signs, pedestrians, markup and so on.
• braking assist is to take care of braking itself and its degree in the certain cases to make a collision softer or to avoid it at all.
• electronic controls that combine several systems in one, analyze data and do some other specific tasks aimed at increasing of the road safety.
The created Zenuity received the cash funds and some other valuable assets from Autoliv, as well as it received the intellectual assets and people to be employed from Volvo. Volvo did not contribute to Zenuity with cash. Despite such division of efforts and cash flows, both Volvo and Autoliv will participate in the venture 50/50.
Autoliv will be the exclusive distributor of the elaborated technologies and Volvo will use their products as the main beneficiary.
Reference: Autoliv was started in 1997. It currently employs over 60 thousand people globally and they operate in around 80 separate facilities in almost 30 countries. They cooperate with every major car manufacturer in the world selling them car safety airbags and other safety technologies.