Veoneer links up with chip giant Qualcomm

Article Excerpt

This 2018 spinoff makes advanced driver-assistance and autonomous driving software and systems. The company is now partnering with computer-chip giant Qualcomm. The two aim to develop the software and chips necessary for advanced driver assistance and autonomous driving vehicle platforms. This deal will put Veoneer at the forefront of key growth trends in the global auto industry. It is your latest Power Growth Investor Buy. VEONEER INC. $17.51 (New York symbol VNE; TSINetwork Rating: Extra Risk) (www.veoneer.com; Shares outstanding: 111.6 million; Market cap: $2.0 billion; No dividends paid) makes automotive radar, cameras with driver assist systems, night vision equipment, positioning systems and brake controls. On June 29, 2018, Veoneer’s former parent, Autoliv (symbol ALV on New York), completed its spinoff. Autoliv shareholders received one Veoneer share for every Autoliv share they held. In April 2020, Veoneer ended its joint venture with Volvo Group. That split saw them divide up Zenuity, the joint venture they formed to develop and commercialize driver-assistance software. Under the…

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