STOCKHOLM, Feb. 5, 2020 /PRNewswire/ -- Veoneer, Inc.
(NYSE: VNE and SSE: VNE SDB), the world's largest pure-play company
focused on Advanced Driving Assistance Systems and Automated
Driving, and its software joint venture Zenuity, have been selected
by a global, Asia-based, automaker
to supply an active safety system based on its next generation Mono
Vision and Radar System. This is the eighth customer for Veoneer's
in-house developed vision system.
Veoneer's scalable system has been developed to meet Euro NCAP
5-star safety rating as well as providing several driver assistance
features such as highway assist, lane centering control, stop and
go adaptative cruise control, automatic emergency braking, traffic
sign recognition and automated high beam control. These are the
main build blocks for higher levels of automated driving.
Veoneer's camera centric system architecture is based on
in-house computer vision algorithms complimented by radar based
perception to cover the full spectrum required by Euro NCAP. Hosted
in the camera is Zenuity's software, fusing information from the
camera and radar enabling high reliability, safety and availability
of the system. In addition, innovative features such as road
surface profile and advanced path predication will be deployed to
enhance the user experience.
Starting in 2022, Veoneer expects to begin delivering the system
to this customer.
"We are truly honored to be selected by yet another global
automaker to develop and build a state-of-the-art active safety
system," says Jan Carlson, Veoneer's
Chairman, President and CEO. "This is an important proof-point of
how our world class solutions support collaborative driving and
create trust in mobility."
Veoneer designs and manufactures products and
solutions for active safety, autonomous driving, occupant
protection and brake control. Our purpose is to create trust in
mobility. Founded in 2018, Veoneer builds on a heritage of close to
70 years of automotive safety development. Headquartered in
Stockholm, Sweden, Veoneer has
9,200 employees in 13 countries. In 2018, sales amounted to
$2.2 billion. Veoneer is listed on
the New York Stock Exchange and on Nasdaq Stockholm
Safe Harbor Statement: This release contains
statements that are not historical facts but rather forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. Such forward-looking statements include those
that address activities, events or developments that Veoneer, Inc.
or its management believes or anticipates may occur in the future.
All forward-looking statements are based upon our current
expectations, various assumptions and/or data available from third
parties. Our expectations and assumptions are expressed in good
faith and we believe there is a reasonable basis for them. However,
there can be no assurance that such forward-looking statements will
materialize or prove to be correct as forward-looking statements
are inherently subject to known and unknown risks, uncertainties
and other factors which may cause actual future results,
performance or achievements to differ materially from the future
results, performance or achievements expressed in or implied by
such forward-looking statements. Numerous risks, uncertainties and
other factors may cause actual results to differ materially from
those set out in the forward-looking statements, including general
economic conditions and fluctuations in the global automotive
market. For any forward-looking statements contained in this or any
other document, we claim the protection of the safe harbor for
forward-looking statements contained in the Private Securities
Litigation Reform Act of 1995, and we assume no obligation to
update publicly or revise any forward-looking statements in light
of new information or future events, except as required by
law.
For more information please contact:
Thomas
Jönsson
EVP Communications & IR
tel +46-(0)8-527-762-27
Ray Pekar
Investor
Relations
tel +1-(248)-794-4537
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SOURCE Veoneer