July 18, 2024

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Automobile Tech Company Veoneer Inks Collaboration Offer With Qualcomm, Shares Rise | Know-how News

Automobile Tech Company Veoneer Inks Collaboration Offer With Qualcomm, Shares Rise | Know-how News

STOCKHOLM (Reuters) – Automotive technologies agency Veoneer and U.S. chip big Qualcomm have signed a collaboration deal to produce a software program and chip system for state-of-the-art driver aid units, Veoneer mentioned on Tuesday.

The firms first communicated their programs to workforce up in August last yr, and their joint system will request to rival corporations this kind of as Intel’s Mobileye

Veoneer, which also makes radars and eyesight systems, mentioned it had fashioned Arriver, a devoted program device for the improvement of the total perception and drive policy application stack.

“Present-day settlement with Qualcomm Systems and the development of Arriver are essential milestones in Veoneer’s improvement,” Veoneer CEO Jan Carlson claimed in a statement.

Veoneer shares, which have additional than doubled given that the preliminary options with Qualcomm had been to start with introduced, rose 2.8% in early Stockholm trading on Tuesday.

Veoneer mentioned that Arriver application is already practical on Qualcomm’s Snapdragon Journey Platform, “which will be out there for automotive buyers in coming months”.

Sweden-based Veoneer said the collaboration involving the providers had been introduced to a number of auto makers and Tier-1 automotive suppliers with very beneficial feedback to the intended specs and capabilities of the system.

Veoneer will very own 100% of Arriver, but the unit will run underneath certain information managing protocols and reporting constructions as aspect of its collaboration with Qualcomm Systems, it claimed.

(Reporting by Johannes Hellstrom enhancing by Niklas Pollard)

Copyright 2021 Thomson Reuters.