Automotive safety solutions developer Autoliv Inc. and Volvo Car Group declared they intend to form a venture firm to design software for self-driving technology. The statement published on Tuesday adds the project will be based in the vehicle manufacturer's home city of Gothenburg, Sweden. Two hundred people will initially be hired to work at the yet unnamed venture, starting early next year, and the founders aspire to bring headcount to "over 600 in the medium term."
The advanced driver assist systems (ADAS) and autonomous driving (AD) technologies will significantly focus on safety. The solutions are intended to be utilized in Volvo Car Corp.'s vehicles and sold exclusively by the Swedish-American partner on the global market, the press release notes. The new company will be led by Dennis Nobelius, managing director of Volvo Cars' Swiss unit.
Image: EPA / Rehan Khan
