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Stock impact report

China's Geely picks Swedish software firm for driverless cars [Reuters]

Autoliv, Inc. (ALV) 
Last autoliv, inc. earnings: 4/24 06:00 am Check Earnings Report
US:NYSE Investor Relations: autoliv.com/investors
Company Research Source: Reuters
China's Geely picks Swedish software firm for driverless cars - Reuters 3 Min Read STOCKHOLM (Reuters) - China’s Geely has chosen Zenuity, a joint venture between its Volvo car marque and Swedish technology group Veoneer, as its preferred supplier for assisted and self driving software. Geely’s deal, encompassing car brands including Geely Auto, performance brand Polestar, subscription-based electric carmaker Lynk & Co and British sports car maker Lotus, provides a welcome boost for Zenuity. Regulatory challenges and soaring development costs mean carmakers have delayed forecasts for the mass adoption of self-driving cars, putting pressure on suppliers such as Zenuity, which declined to comment on financial terms on Wednesday. Veoneer said in April it was carrying out a review of Zenuity, which is focused on developing software for assisted driving features (ADAS) such as lane keeping and autonomous driving (AD), and seeking efficiencies from the venture. Chief Executive Dennis Nobeli Show less Read more
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