Volvos Zenseact Receives ECARX Strategic Investment For Autonomous Driving Technology Collaboration
Volvo Cars announced that its autonomous driving (AD) software development subsidiary Zenseact has received a strategic investment by ECARX, the privately-owned Chinese provider of cutting-edge connected car technology. ECARX will take a 15 per cent shareholding in Zenseact and make a strategic investment in the company's continued development of leading and safe AD and safety technologies. Building on Zenseact's global software platform, the companies also plan to collaborate on AD for the Chinese market.
The strategic investment and planned collaboration with ECARX strengthen Zenseact's presence in China, the world's largest automotive market, allowing it to accelerate technology deployment in China across the Geely group of brands and beyond.
Zenseact is Volvo Cars' autonomous driving (AD) software development subsidiary
Hakan Samuelsson, chief executive of Volvo Cars and chairman of the board at Zenseact said, "The investment strengthens our footprint in China and gives Zenseact a clear way to grow more quickly."
Zenseact's first delivery will be technology for next generation Volvo and Polestar cars, such as active safety features and an unsupervised AD function for highways.
The strategic investment allows Zenseact to capitalise on the accelerating demand for AD systems in China. It is also working with LiDAR technology firm Luminar to commercialise a complete AD offering.
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