Veoneer prides itself as a worldwide leader in automotive technology. Qualcomm, on other hand, has the title of a global leader in the chip industry. Back in August last year, both companies communicated their plans to join forces and provide much need technology in terms of hardware and software. This technology will push forward the development of mobility systems providing enhanced driver assistance. The new partnership will rival other established companies in this segment. The duo of companies wants to get a slice of this cake.
Qualcomm and Veoneer will bring a set of new technologies
According to Veoneer, the company already has in place a dedicated software arm called Arriiver. The company will focus on the development of relevant enablers via software. It will enhance the operation of such driver assistance systems. The company’s top executive, in a statement, said that both the agreement with Qualcomm and the creation of the Arriver’s arm are important milestones in the company’s development. Moreover, the Arriver software, according to CEO, Jan Carlson, is already functional on Qualcomm’s Snapdragon Ride Platform.
The Swedish company’s shares have been on a surge in the Stockholm exchange since preliminary plans were unveiled to collaborate with Qualcomm last year. Veoneer’s shares rose by 2.8% in response to the news of the collaboration with Qualcomm. The chipmaker will get access to the automobile company’s research and will be able to manufacture chips to push this technology forward. According to Veoneer said it has gotten positive feedback from its potential automotive customers on the application of its technology. Worth noting that Veoneer has full ownership of Arriver. However, the unit will operate under specific information handling protocols and reporting structures. All of this is part of the company’s collaboration with Qualcomm Technologies.
We are curious to see the first fruits of this partnership and the influence it will have on commercially-available products.