STOCKHOLM, Sept. 10, 2019 /PRNewswire/ -- Veoneer, Inc. (NYSE: VNE and SSE: VNE SDB), the world's largest pure-play company focused on Advanced Driving Assistance Systems and Automated Driving, and its software joint venture Zenuity, have been nominated by a global automaker to supply its next generation Mono Vision System for vehicles in Europe.
Veoneer's mono vision camera system is designed to meet or exceed the market standards set by European NCAP for 5-star safety ratings. Veoneer's system is best in class for object detection, lane detection with road boundary, free space detection, traffic light detection, and support object enhanced map. Veoneer's system uses deep learning technologies to enhance detection algorithm performance.
Included in this nomination is Zenuity's software, which will fuse data from the mono vision camera system and the vehicle's radar sensor to activate features like emergency braking, adaptive cruise control, traffic jam assist, and other world-leading driver support functions.
Starting in 2021, Veoneer will begin delivering mono vision camera systems to this customer.
"We are truly honored to be nominated by yet another global automaker to develop and build mono vision camera systems," says Jan Carlson, Veoneer Chairman, President and CEO. "This marks our seventh vision customer and is an important proof-point of how our world class solutions support collaborative driving and create trust in mobility."
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EVP Communications & IR
Veoneer designs and manufactures products and solutions for active safety, autonomous driving, occupant protection and brake control. Our purpose is to create trust in mobility. Founded in 2018, Veoneer builds on a heritage of close to 70 years of automotive safety development. Headquartered in Stockholm, Sweden, Veoneer has 9,200 employees in 13 countries. In 2018, sales amounted to $2.2 billion. Veoneer is listed on the New York Stock Exchange and on the Nasdaq Stockholm.
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, Inc. or its management believes or anticipates may occur in the future. 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 and fluctuations in the global automotive market. 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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