Veoneer Partner in AI Innovation of Sweden

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Feb 06, 2019, 10:37 ET

STOCKHOLM, Feb. 6, 2019 /PRNewswire/ --

Veoneer, Inc. (NYSE: VNE and SSE: VNE SDB), the world's largest pure-play company focused on Advanced Driver Assistance Systems (ADAS) and Automated Driving (AD), is one of the founding partners in AI Innovation of Sweden, the new national center for accelerating research and innovation within Artificial Intelligence (AI).

AI Innovation of Sweden is a national and neutral initiative which is intended to function as an engine in the Swedish AI ecosystem. The focus is on accelerating implementation of AI by means of sharing knowledge and data, co-location and collaboration projects, all with a strong focus on ethics, transparency and security. AI Innovation of Sweden establishes shared resources, for example the "Data Factory", which will make data available in a new and unique way, and "Co-Location sites" with the aim of improving collaboration, knowledge-sharing and the ability to attract talent.

AI and Deep Learning technologies will be used more and more when developing more advanced and reliable ADAS and AD solutions, such as the forward-looking cameras used in the next generation highway pilot assist. Veoneer is a pioneer in deep learning vision with the first customer deliveries in 2019.

AI is also important for the next phase of mobility, referred to as Collaborative Driving, when the car is handling parts of the driving, with the driver still engaged. Here, AI is an important ingredient for creating mutual trust between the driver and the car.

"Working together in ecosystems is important to accelerate speed in innovation and creating robust and reliable AI tools. We are proud to be one of the founding partners in this Swedish initiative," says Ola Boström, VP Research at Veoneer.

The AI center will have several nodes around the country. Today, the first node, based in Lindholmen Gothenburg, was inaugurated by Anders Ygeman, Minister for Energy and Digitalization in Sweden.

AI Innovation of Sweden is funded by Vinnova, Region Västra Götaland, the private sector, the public sector, research institutes, and academia.

For more information please contact:
Media
Thomas Jönsson, GVP Communications & IR, tel +46-(0)-8-527-762-27

Investors & analysts:
Thomas Jönsson, Communications & IR, tel +46-(0)-8-527-762-27

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

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. Veoneer is a new technology company that is building on a heritage of more than 60 years of automotive safety development. Veoneer and its joint-ventures has 8,300 employees in 13 countries. Headquartered in Stockholm, Sweden, 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.

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