STOCKHOLM, Aug. 27, 2020 /PRNewswire/ -- Automotive
technology company, Veoneer, Inc. and Qualcomm Technologies, Inc.,
have decided to collaborate on the delivery of scalable
Advanced Driver Assistance Systems (ADAS), Collaborative and
Autonomous Driving (AD) solutions powered by Veoneer's
next-generation perception and driving policy software stack and
Qualcomm® Snapdragon Ride™ ADAS/AD scalable portfolio of System on
a Chip (SoC), and Accelerators. This ranges from L1 to L4 systems
uniquely designed to create an open platform for Tier-1 suppliers
and Automakers.
Designed to address the growing complexities associated with
developing advanced driver-assistance systems (ADAS), including
safety compliance, the integrated software and SoC platform aims to
address the growing needs of the automotive ecosystem for scalable
and upgradable solutions, which require highly advanced and
power-efficient compute, connectivity and cloud service
capabilities across all vehicle tiers.
This platform will integrate Veoneer's fifth generation
perception software and driving policy software with the current
and future Snapdragon Ride portfolio.
Qualcomm Technologies intends to make this integrated SoC and
software stack platform available to global automakers and Tier-1
suppliers.
Veoneer will serve as a Tier-1 system integrator for the new
solution, while continuing its current strategies, which include
developing, selling and launching its full line of ADAS and
Collaborative Driving products and systems.
The open and programmable platform that both companies intend to
develop will be designed to create alternatives for automakers and
Tier-1s for more customization opportunities while also charting a
course for next-generation automotive architecture evolution. The
companies expect the integrated platform to be available through
automotive Tier-1 suppliers or directly to OEMs for 2024 vehicle
production.
Veoneer's software stacks are automotive grade solutions
designed to meet the requirements of automakers, regulators and
rating agencies globally. It has received top performance ratings
and enabled automakers to achieve 5-star safety ratings for
European New Car Assessment Program (Euro NCAP) in 2018 and
2020. The companies plan to launch a state-of-the art
automotive grade, functional safety compliant and optimized
platform which will include a full range of optimized NCAP features
and up to hands-free driving on highways and slow-moving
traffic. The platform will be continuously upgradeable
through over the air updates.
The next generation software stack will be developed in a
dedicated organization within Veoneer.
Earlier this year, Qualcomm Technologies announced its latest
addition to the company's growing portfolio of automotive products
with the new Qualcomm® Snapdragon Ride™ platform. Snapdragon Ride
is designed based on the Qualcomm® Snapdragon™ family of automotive
system-on-chip (SoC) and accelerator products, which are built on
scalable and modular heterogenous high-performance multi-core CPUs
for planning and decision making, energy efficient AI and computer
vision (CV) engines, industry-leading GPU for high-end
visualization, image signal processors for camera sensors, and
dedicated safety and security subsystems. The integrated platform
with Veoneer's software stack will be built on the scalable
Snapdragon Ride roadmap, offering industry leading scalability from
L1 ADAS to L4 Autonomous Driving SoC and Accelerator products that
leverage Qualcomm Technologies' leadership in heterogeneous
compute, leading process technology, low power and higher
performance automotive semiconductors.
The parties have signed a non-binding letter of intent and
expect to finalize a definitive agreement during second half of
2020.
"We are pleased to work with Qualcomm Technologies to develop
next generation solutions for ADAS and collaborative and autonomous
driving. Working with a recognized leader like Qualcomm
Technologies, using their ground-breaking Snapdragon Ride products,
provides us the remaining piece of the puzzle. This relationship
not only strengthens our product portfolio, but also broadens our
go-to-market position and opportunities, while giving customers
more ways to access world-leading technology," said Jan Carlson, Chairman, President & CEO,
Veoneer.
"There has been a growing desire within the automotive ecosystem
to have a full SoC and Stack solution that can scale from the entry
tier of active safety systems to higher-end automated driving
solutions. Combining our best-in-class product roadmap of
integrated automotive platforms, which supports broader
functionalities like 5G/4G, telematics and infotainment, with
Veoneer's proven software stack for perception and driving, creates
a unique offering to support this need. Qualcomm Technologies
remains committed to offering high performance and advanced
automotive solutions for all vehicle tiers and levels and we look
forward to working with an industry pioneer like Veoneer to
accelerate innovation to deliver comprehensive systems," said
Cristiano Amon, President of
Qualcomm Incorporated.
This report is information that Veoneer, Inc. is obliged to make
public pursuant to the EU Market Abuse Regulation. The information
was submitted for publication, through the agency of the EVP
Communications and IR set out above, at 13:30 CET on Thursday August 27, 2020.
Live conference call
Veoneer & Qualcomm will arrange a 30 minute live conference
call on August 27 at 16.00 CET.
A link to the live call will be available on Veoneer's web site
www.veoneer.com.
Web cast: https://edge.media-server.com/mmc/p/nsbt9gds
Attend by Phone:
Confirmation Code:......... 4452365
Sweden, Stockholm:........ +46 (0)850692169
United Kingdom:............. +44
(0)203 0095709
United States:................
+16467871226
For more information please contact:
Thomas Jönsson, EVP Communications & IR, tel +46
(0)8 527 762 27
Thomas.jonsson@veoneer.com
Ray Pekar, VP Investor Relations,
tel +1 (248) 794-4537
ray.pekar@veoneer.com
Veoneer, Inc. is a worldwide leader in automotive
technology. Our purpose is to create trust in mobility. We design,
manufacture and sell state-of-the-art software, hardware and
systems for occupant protection, advanced driving assistance
systems, and collaborative and automated driving to OEMs globally.
Headquartered in Stockholm,
Sweden, Veoneer has 7,100 employees in 13 countries. In
2019, sales amounted to $1.9 billion.
The Company is building on a heritage of close to 70 years of
automotive safety development. In 2018, Veoneer became an
independent, publicly traded company listed on the New York Stock
Exchange (NYSE: VNE) and on the Nasdaq Stockholm (SSE: VNE
SDB).
Qualcomm, Snapdragon, and Snapdragon
Ride are trademarks or registered trademarks of
Qualcomm Incorporated. Qualcomm Snapdragon and Qualcomm Snapdragon
Ride are products of Qualcomm Technologies, Inc. and/or its
subsidiaries.
Safe Harbor Statement: This release contains
statements that are not historical facts but rather forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. Such forward-looking statements include those
that address activities, events or developments that Veoneer or its
management believes or anticipates may occur in the future,
including the transaction and business contemplated by the
non-binding agreement with Qualcomm Technologies. All
forward-looking statements are based upon our current expectations,
various assumptions and/or data available from third parties. Our
expectations and assumptions are expressed in good faith and we
believe there is a reasonable basis for them. However, there can be
no assurance that such forward-looking statements will materialize
or prove to be correct as forward-looking statements are inherently
subject to known and unknown risks, uncertainties and other factors
which may cause actual future results, performance or achievements
to differ materially from the future results, performance or
achievements expressed in or implied by such forward-looking
statements. Numerous risks, uncertainties and other factors may
cause actual results to differ materially from those set out in the
forward-looking statements, including general economic conditions,
fluctuations in the global automotive market, our ability to
complete the transaction contemplated by the non-binding agreement
with Qualcomm Technologies, which is subject to the negotiation and
documentation of definitive agreements, the development of the
software and integrated platform contemplated by the non-binding
agreement and the impact of COVID-19 on the Company's financial
condition, business operations and liquidity. For any
forward-looking statements contained in this or any other document,
we claim the protection of the safe harbor for forward-looking
statements contained in the Private Securities Litigation Reform
Act of 1995, and we assume no obligation to update publicly or
revise any forward-looking statements in light of new information
or future events, except as required by law.
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https://news.cision.com/veoneer/r/veoneer-and-qualcomm-to-power-next-generation-adas-and-autonomous-driving-systems,c3182514
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