Veoneer

Last updated
Veoneer
Company type Private
Industry Automotive
Founded2018;6 years ago (2018)
Headquarters Stockholm, Sweden
Key people
Nik Endrud, CEO
ProductsRestraint Control Systems
Revenue US$2.3 billion
OwnerAmerican Industrial Partners
Number of employees
2,200
Website www.veoneer.com
Veoneer in Canada VeoneerMarkham.jpg
Veoneer in Canada

Veoneer is an American Swedish provider of automotive technology based in Stockholm, Sweden. It is incorporated in Delaware. [1] [2] The company is the result of a spin-off in 2018 of Autoliv's electronics and automated driving divisions. [3] In 2019, Veoneer acquired high-performance brakes maker Nissin Kogyo's 49% stake in the Veoneer-Nissin Joint Venture's US operation. [4] Veoneer's products include radars, lidars, thermal night vision cameras, vision systems and advanced driver assistance and autonomous driving software. [2] Veoneer counts all major global automakers as its customers.

Contents

The company also provides night driving assist systems, active safety sensors, mono-and stereo-vision cameras, airbag control units and crash sensors. [5]

In October 2021, Qualcomm and SSW Partners reached an agreement to buy Veoneer for $4.5 billion. [6] As part of the deal, SSW Partners would sell Veoneer's Arriver business to Qualcomm. The acquisition closed in April 2022. [7] In June 2022, Bloomberg News reported that SSW Partners had started to prepare work on divesting the remainder of Veoneer's businesses. [8] In December 2022, it was announced SSW Partners had sold Veoneer's active safety portion to the Aurora-headquartered automotive parts manufacturer, Magna International for $1.52 billion USD. [9]

See also

Related Research Articles

<span class="mw-page-title-main">Qualcomm</span> American semiconductor company

Qualcomm Incorporated is an American multinational corporation headquartered in San Diego, California, and incorporated in Delaware. It creates semiconductors, software, and services related to wireless technology. It owns patents critical to the 5G, 4G, CDMA2000, TD-SCDMA and WCDMA mobile communications standards.

<span class="mw-page-title-main">Autoliv</span> Swedish automotive safety supplier

Autoliv, Inc. is an American, Swedish-headquartered automotive safety supplier with sales to all leading car manufacturers worldwide. Together with its joint ventures, Autoliv has over 68,000 employees in 27 countries, of whom 5700 are involved in research, development and engineering. In addition, the company has 14 technical centers around the world, including 20 test tracks, more than any other automotive safety supplier.

<span class="mw-page-title-main">Magna International</span> Canadian automotive supplier

Magna International Inc. is a Canadian parts manufacturer for automakers. It is one of the largest companies in Canada and was recognized on the 2020 Forbes Global 2000. The company is the largest automobile parts manufacturer in North America by sales of original equipment parts; it has ranked consistently in the Fortune Global 500 list for 20 years in a row since 2001. It produces automotive systems, assemblies, modules, and components, which are supplied to General Motors, Ford and Stellantis, as well as BMW, Mercedes, Volkswagen, Toyota, Tesla, and Tata Motors, among others.

Liberty Global Ltd. is a British-Dutch-American multinational telecommunications company domiciled in Bermuda, with headquarters in London, Amsterdam and Denver. Its respective legal names are Liberty Global Holdings Limited (UK), Liberty Global B.V. (Netherlands) and Liberty Global, Inc., with the first of these being publicly traded. It was formed in 2005 by the merger of the international arm of Liberty Media and UnitedGlobalCom (UGC).

<span class="mw-page-title-main">General Motors Europe</span> Europes division of General Motors

General Motors Europe was the European subsidiary of the American automaker General Motors ("GM"). The subsidiary was established by GM in 1986 and operated 14 production and assembly facilities in 9 countries, and employed around 54,500 people. GM's core European brands were Vauxhall and Opel, which both sell much the same range of cars in different markets. GM also owned the Swedish brand Saab until early 2010 and sold Chevrolet models between 2005 and 2015. The U.S. brand Cadillac is imported into Europe in small quantities. In 2009, General Motors (GM) announced to move its European headquarters from Zürich, Switzerland to Rüsselsheim, Germany to strengthen its German subsidiary Opel.

<span class="mw-page-title-main">NXP Semiconductors</span> Dutch semiconductor manufacturer

NXP Semiconductors N.V. (NXP) is a Dutch semiconductor manufacturing and design company with headquarters in Eindhoven, Netherlands. It is the third largest European semiconductor company by market capitalization as of 2024. The company employs approximately 34,000 people in more than 30 countries and it reported revenues of $13.3 billion in 2023.

<span class="mw-page-title-main">Here Technologies</span> Netherlands-based mapping data company

Here Technologies is a Dutch multinational group specialized in mapping technologies, location data, and related automotive services to individuals and companies. It is majority-owned by a consortium of German automotive companies and American semiconductor company Intel whilst other companies also own minority stakes. Its roots date back to U.S.-based Navteq in 1985, which was acquired by Finland-based Nokia in 2007. Here is currently based in The Netherlands.

<span class="mw-page-title-main">Francisco Partners</span> American private equity firm

Francisco Partners Management, L.P., doing business as Francisco Partners, is an American private equity firm focused exclusively on investments in technology and technology-enabled services businesses. It was founded in August 1999 and based in San Francisco with offices in London and New York City.

<span class="mw-page-title-main">Vista Equity Partners</span> American investment firm

Vista Equity Partners is an American private equity firm that invests in software, data, and technology-enabled businesses. With over $100 billion in assets under management (AUM), it is one of the largest private equity firms in the world. Vista Equity Partners has invested in hundreds of technology companies, including Citrix, SentinelOne, and Marketo, and has achieved many accolades in the space, most recently being named as 2023's Global Technology Private Equity Firm of the Year by Private Equity International.

<span class="mw-page-title-main">Antonio Weiss</span>

Antonio Francesco Weiss is an investor, policymaker, and former publisher. He is currently a senior fellow at the Mossavar-Rahmani Center for Business and Government at Harvard's Kennedy School and a partner at investment firm SSW Partners LP.

<span class="mw-page-title-main">Mobileye</span> Israeli information technology company

Mobileye Global Inc. is an Israeli autonomous driving company. It is developing self-driving technologies and advanced driver-assistance systems (ADAS) including cameras, computer chips, and software. Mobileye was acquired by Intel in 2017 and went public again in 2022.

From 2014 until 2024, Apple undertook a research and development effort to develop an electric and self-driving car, codenamed "Project Titan". Apple never openly discussed any of its automotive research, but around 5,000 employees were reported to be working on the project as of 2018. In May 2018, Apple reportedly partnered with Volkswagen to produce an autonomous employee shuttle van based on the T6 Transporter commercial vehicle platform. In August 2018, the BBC reported that Apple had 66 road-registered driverless cars, with 111 drivers registered to operate those cars. In 2020, it was believed that Apple was still working on self-driving related hardware, software and service as a potential product, instead of actual Apple-branded cars. In December 2020, Reuters reported that Apple was planning on a possible launch date of 2024, but analyst Ming-Chi Kuo claimed it would not be launched before 2025 and might not be launched until 2028 or later.

A robotaxi, also known as robot taxi, robo-taxi, self-driving taxi or driverless taxi, is an autonomous car operated for a ridesharing company.

Qualcomm Ventures is the investment arm of Qualcomm Incorporated. Founded in 2000, Qualcomm Ventures is a corporate venture capital fund with 140+ active portfolio companies. Investing in startups targeting the wireless ecosystem, the group focuses on investments in the sectors of automotive, data center and enterprise, digital health, Internet of Things (IoT), and mobile.

Luminar Technologies Inc. is an American technology company that develops vision-based lidar and machine perception technologies, primarily for self-driving cars. The company's headquarters and main research and development facilities are in Orlando, Florida; a second major office is located in Palo Alto, California.

TV4 Media AB is a Swedish media holding company which is currently a part of the Swedish telecommunications company Telia Company, having acquired it from Swedish multimedia conglomerate Bonnier Group. The company owns Swedish commercial broadcaster TV4 AB, Finnish commercial broadcaster MTV Oy, and pan-Nordic premium television channel operator C More Entertainment.

The Sony Vision-S is an all-electric automobile platform that was developed by Sony, with the first model unveiled at the 2020 Consumer Electronics Show (CES) in Las Vegas as the Vision-S Concept. When the second concept was unveiled in 2022 as the Vision-S 02, the original concept was retroactively renamed to Vision-S 01. Sony plans to use the Vision-S platform to develop future electric vehicles under a new wholly-owned subsidiary, Sony Mobility Inc., which will assume responsibility for the Vision-S platform and vehicle development in the spring of 2022. The Vision-S platform is fully electric and designed to emphasize the user experience of autonomous driving, as well as accommodate the growth of technology in future models.

Aurora Innovation, Inc., doing business as Aurora, is a self-driving vehicle technology company based in Pittsburgh, Pennsylvania. Aurora has developed the Aurora Driver, a computer system that can be integrated into cars for autonomous driving. Aurora was co-founded by Chris Urmson, the former chief technology officer of Google/Alphabet Inc.'s self-driving team, which became known as Waymo, as well as by Sterling Anderson, former head of Tesla Autopilot, and Drew Bagnell, former head of Uber's autonomy and perception team.

Plus is an American autonomous trucking technology company based in Santa Clara, California. The company develops Level 4 autonomous trucking technology for commercial freight trucks. In 2019, the company completed the first cross-country driverless freight delivery in the U.S. The company's self-driving system began to be used commercially in 2021.

Aeva Technologies, Inc. is a publicly traded American corporation specializing in sensing hardware and perception software, including LiDAR, headquartered in Mountain View, California. Aeva makes sensing and perception tools for vehicular automation, metrology, and industrial automation.

References

  1. "Governance".
  2. 1 2 "Sweden's Veoneer to sell $500 million of bonds, equity to boost..." Reuters. 21 May 2019 via www.reuters.com.
  3. "Veoneer spin-off".
  4. "2nd Quarter 2019, Financial Results" (PDF). Retrieved 2023-08-11.
  5. "Stocks". Bloomberg News . 22 May 2023.
  6. Soderpalm, Helena; Hu, Krystal (4 October 2021). "Qualcomm, SSW Partners to buy Veoneer in $4.5 billion deal". Reuters.
  7. Soderpalm, Helena (24 March 2022). "Veoneer says Qualcomm deal to close next week". Reuters .
  8. Porter, Kiel; Kirchfeld, Aaron; Philip, Siddharth Vikram (23 June 2022). "SSW Partners Prepares Auto Supplier Veoneer for Sale". Bloomberg News . Archived from the original on 18 July 2022.
  9. "Evertiq - Magna to acquire Veoneer's active safety business". evertiq.com. Retrieved 2022-12-20.