Veoneer will partner with Qualcomm Technologies on developing software for its driver assistance systems, the Swedish supplier said last week. The supplier of vision systems, radar and software for ADAS said it had signed a non-binding letter of intent with the U.S. technology company and expected to finalize a definitive agreement in the second half of this year.
Veoneer, which competes with companies such as Aptiv, Bosch and Continental, said in a statement it would develop an integrated platform with Qualcomm to be available through Tier 1 suppliers or directly to automakers for 2024 vehicle production.
The company, which supplies automakers such as Daimler, Ford and Honda, said last month it expected sales this year to outpace light-vehicle production.