JAKARTA - Swedish automotive technology company Veoneer recently signed a collaborative agreement with US chipset maker Qualcomm to jointly develop a software platform and chips that can be used for advanced driver assist mobility systems.
The new partnership between Veoneer and Qualcomm has actually been planned since August 2020 when the two companies discussed their plans to join forces and provide technology for mobility systems with advanced driver assistance.
Reporting from Qualcomm's official website, Veoneer said that it has formed Arriver, which is a dedicated software unit for complete perception development and software driving.
"Today's agreement with Qualcomm Technologies and the manufacture of Arriver is a significant milestone in the development of Veoneer," said Veoneer CEO Jan Carlson in a statement.
According to Veoneer, the software they developed will be available in the coming months on the Qualcomm Snapdragon Ride Platform which will also be available for automotive customers.
"Qualcomm Technologies remains committed to offering high-performance and state-of-the-art automotive solutions for all vehicle tiers and levels and we look forward to working with industry pioneers like Veoneer to accelerate innovation to deliver comprehensive systems," said Cristiano Amon, President of Qualcomm Incorporated.
In effect of the signing, the Swedish company's shares have surged on the Stockholm stock exchange since the initial plan was announced last year which has doubled since then. Veoneer shares rose 2.8 percent in response to news of the collaboration with Qualcomm.
Veoneer said that it has received positive responses from potential automotive customers for the application of its technology.
While Veoneer retains full ownership of Arriver, the unit is expected to operate under a specific information handling protocol and reporting structure, as part of its collaboration with Qualcomm Technologies.
This new partnership is expected to compete with several other established companies in the automotive industry, especially in autonomous cars.
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