Subaru Selects Veoneer to Manufacture New Generation Eyesight

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Oct 01, 2020, 02:53 ET

STOCKHOLM, Oct. 1, 2020 /PRNewswire/ -- The automotive technology company Veoneer, Inc. (NYSE: VNE and SSE: VNE SDB), has partnered with Subaru to introduce the new generation EyeSight on the all-new Subaru Levorg. Veoneer will begin producing systems for the Japan market starting later this year.

Veoneer was selected by Subaru due to its experience in stereo vision systems and opto-mechanical design capabilities. This business is included in Veoneer's previously announced backlog. The new generation EyeSight hardware is a variant of Veoneer's 4^th generation stereo vision system, re-engineered to meet Subaru's original specification.

Subaru first introduced EyeSight in the U.S. in 2012, which has become a leading system in the automotive industry. The new generation EyeSight has two cameras mounted on a wide-baseline design allowing for better detection of pedestrians and vehicles in intersections and on curved roadways. The system doubles the field-of-view and substantially increases the resolution over previous generations. The system also has enhanced optical robustness and mechanical rigidity which improves detection performance while retaining a compact design package. Integrated in the system package is a Xilinx Zynq XA processor hosting algorithms developed by Subaru.

"We are proud to have partnered with Subaru on the next generation EyeSight system for the all-new Levorg," says Jan Carlson, Veoneer Chairman, President and CEO. "Veoneer is leading the industry in stereo vision systems and is honored to custom design a version that is at the heart of Subaru's ADAS solutions."

For more information please contact:

Thomas Jönsson
EVP Communications & IR
tel +46 (0)8 527 762 27

Ray Pekar
VP Investor Relations
tel +1 (248) 794-4537

Veoneer, Inc. is a worldwide leader in automotive technology. Our purpose is to create trust in mobility. We design, manufacture and sell state-of-the-art software, hardware and systems for occupant protection, advanced driving assistance systems, and collaborative and automated driving to OEMs globally. Headquartered in Stockholm, Sweden, Veoneer has 7,100 employees in 13 countries. In 2019, sales amounted to $1.9 billion. The Company is building on a heritage of close to 70 years of automotive safety development. In 2018, Veoneer became an independent, publicly traded company listed on the New York Stock Exchange (NYSE: VNE) and on the Nasdaq Stockholm (SSE: VNE SDB).

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.

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SOURCE Veoneer