Autoliv, the leader in automotive safety system and Volvo have finalised an agreement that will see a new joint venture established called Zenuit. The venture will be there to develop autonomous driving and safety systems.
This venture marks the first time a premium car maker and tier one supplier have come together to create new driver assist systems.
Zenuit will consist of intellectual property from both companies. Its headquarters will be in Gothenburg, Sweden and will have smaller offices in Munich and Detroit. Operations are expected to begin by June 2017 and will see employee numbers rise to over 600 quickly.
Its driver safety products are expected to be introduced in 2019 with the autonomous driving tech coming soon after.
Volvo will exclusively include Zenuit products its vehicles.