Veoneer Awarded Active Safety System by Major Asian OEM

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Nov 15, 2022, 03:10 ET

STOCKHOLM, Nov. 15, 2022 /PRNewswire/ -- The automotive technology company Veoneer has signed an agreement with a major Asian OEM to equip an electric vehicle joint-venture in China with an active safety system comprising of a monovision camera, a package of forward-looking and corner radars, and an ADAS ECU.

In 2024, Veoneer will begin delivering and integrating the Active Safety system, designed for collaborative driving on level 2+. The system's high level of safety functionality is maintained in bad weather and darkness, and it includes features that can trigger alarms, take control of the vehicle to avoid a crash or lessen an accident's severity as well as automatically brake the car.

The award includes Veoneer's 4th generation monovision system. The hardware is integrated with software which is using deep learning technologies that identify objects such as cars, road markings and road signs.

Veoneer's corner and forward-looking radars provide reliable and accurate situational awareness of objects surrounding the vehicle and are critical for autonomous driving systems. Radar systems warn for potential collisions, are used for avoiding blind spot crashes, and can control stop-and-go functions in queues, among other functionalities.

The award also includes Veoneer's ADAS ECU, the multi-lingual brain that monitors the surroundings and fuses data from cameras, radars and sensors, interprets the situation and makes informed decisions to support the driver and triggers features such as emergency braking or automatic lane changes.

"We are proud to receive this major award aimed at the growing Chinese market from a renowned Asian customer. This award is truly a proof point that Veoneer has one of the industry's most capable teams and remains at the forefront of technologies, providing safe and reliable active safety systems to vehicle manufacturers globally," says Jacob Svanberg, CEO of Veoneer.

For more information please contact:

Thomas Jönsson, EVP Communications & IR,
[email protected], tel +46 (0)8 527 762 27

Veoneer HoldCo, LLC. is an automotive technology company, a world leader in active safety and restraint control systems, focused on delivering innovative, best-in-class products and solutions to our customers. Our purpose is to create trust in mobility. Veoneer is a Tier-1 hardware supplier and system integrator with products being part of more than 125 scheduled vehicle launches for 2022. Headquartered in Stockholm, Sweden, Veoneer has 6,100 employees in 11 countries. The Company is building on a heritage of close to 70 years of automotive safety development.

The following files are available for download:

https://mb.cision.com/Main/17380/3667106/1670171.pdf

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SOURCE Veoneer