Veoneer's JV Zenuity Reached a Milestone With Polestar 2

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Mar 05, 2019, 02:56 ET

STOCKHOLM, March 5, 2019 /PRNewswire/ -- Veoneer, Inc.´s (NYSE: VNE) and (SSE: VNE SDB), joint-venture for advanced driver assistance systems (ADAS) and autonomous driving software, Zenuity, reached an important milestone when the all-electric luxury car Polestar 2 was revealed recently.

Early 2020, Polestar 2 will be the first car model on the market with an ADAS software system, e.g. pilot assist, collision avoidance, connected safety, that has been created and adapted by Zenuity and Veoneer.

In Polestar 2, Zenuity's ADAS software stack has been integrated with Veoneer's sensors and the active safety products ADAS ECU, front radar, and monovision cameras version 4 with algorithms using deep learning technologies developed by Veoneer.

"We are proud that Zenuity delivers its first production ADAS software system to Polestar – and we are equally proud to provide our active safety products including the new generation monovision camera system," says Jan Carlson, Chairman, President and CEO at Veoneer.

Polestar is the electric performance car brand jointly owned by Volvo Car Group and Zhejiang Geely Holding.

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 has 8,600 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.

For more information please contact:
Media:
Thomas Jönsson,
EVP 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

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SOURCE Veoneer