STOCKHOLM (Reuters) – Automotive engineering business Veoneer and U.S. chip big Qualcomm have signed a collaboration deal to acquire a computer software and chip platform for advanced driver support methods, Veoneer said on Tuesday.
The businesses 1st communicated their strategies to staff up in August previous year, and their joint system will find to rival corporations these kinds of as Intel’s Mobileye
Veoneer, which also helps make radars and vision units, said it had formed Arriver, a committed application unit for the advancement of the full notion and travel coverage computer software stack.
“Present-day agreement with Qualcomm Technologies and the creation of Arriver are crucial milestones in Veoneer’s progress,” Veoneer CEO Jan Carlson said in a assertion.
Veoneer shares, which have a lot more than doubled because the preliminary strategies with Qualcomm were initial introduced, rose 2.8% in early Stockholm buying and selling on Tuesday.
Veoneer said that Arriver software program is currently practical on Qualcomm’s Snapdragon Journey System, “which will be out there for automotive shoppers in coming months”.
Sweden-centered Veoneer claimed the collaboration between the businesses had been introduced to a range of motor vehicle makers and Tier-1 automotive suppliers with really favourable comments to the meant technical specs and abilities of the system.
Veoneer will possess 100% of Arriver, but the unit will work below precise information and facts dealing with protocols and reporting constructions as part of its collaboration with Qualcomm Systems, it explained.
(Reporting by Johannes Hellstrom editing by Niklas Pollard)
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