Automotive safety systems company Autoliv has unveiled the name of its planned new electronics spin-off company – Veoneer.
The supplier will offer safety electronics, sensors and software for active safety, advanced driver assistance systems (ADAS) and autonomous driving, as well as advanced brake control solutions.
“The Veoneer brand will be a visionary pioneer in automotive electronics, ADAS, automotion and new mobility,” said Jan Carlson, President, Chairman and CEO of Autoliv.
“Veoneer is prepared to take on the challenges of automation and human machine interaction as vehicles get increasingly intelligent,” continued Carlson.
“This development will greatly improve traffic safety and bring new levels of comfort and convenience to people in need of transportation.”
In December, Autoliv’s Board of Directors confirmed plans to continue with the spin-off of its Electronics business segment, creating a new, independent publicly traded company.
Autoliv expects the spin-off to be completed later this year, with the company’s current Passive Safety segment continuing to operate under the Autoliv name after the spin-off.