Veoneer Receives Thermal Cameras Award for Autonomous Vehicles

STOCKHOLM, Sept. 17, 2019 /PRNewswire/ -- Veoneer, Inc. (NYSE: VNE and SSE: VNE SDB), the world's largest pure-play company focused on Advanced Driver Assistance Systems, Collaborative and Automated Driving, has been awarded a production contract to manufacture the world's first thermal camera for a Level 4 autonomous vehicle. Veoneer's engineering will be funded by a world-leading automaker to handle conditions of low visibility including darkness, smoke, sun and headlight glare.

This first of its kind Level 4 autonomous driving system will employ multiple high-resolution thermal cameras to enhance safety for the mobility-as-a-service market. The system uses narrow and wide field-of-view thermal cameras to enhance the detection of pedestrians, animals, vehicles, motorcycles, bicyclists, and objects to complement the capabilities of other sensor technologies. The start of production is planned for 2021. 

This latest thermal sensing system is built upon Veoneer's 4th generation night vision system which uses a high-resolution thermal camera plus advanced analytics to detect pedestrians and animals on the road at night, warning drivers of potential dangers in total darkness and other low visibility conditions. Thermal cameras can sense very small temperature differences to differentiate objects from their surroundings at extended ranges under all lighting conditions.  

Veoneer is the market leader for night vision systems for automotive applications, available globally on more than 40 vehicle models. Veoneer's 4th generation night vision system will launch in 2020.

"Thermal cameras are critical for enhancing the safety of autonomous vehicles because of their unique sensing capabilities," says Jan Carlson, Chairman, President and CEO, Veoneer, Inc. "This award is an industry breakthrough for Veoneer and the future of self-driving cars. We are honored to have been selected by this premier global automaker to contribute to the evolution of highly automated driving systems." 

For more information please contact: 

Thomas Jönsson, EVP Communications & IR, Tel +46 (0) 8 527 762 27 
Ray Pekar, VP Investor Relations, Tel +1 (248) 794-4537

Veoneer designs, develops and manufactures products and safety electronics hardware, software and system solutions for active safety, autonomous driving, occupant protection and brake control. Our purpose is to create trust in mobility. Veoneer is a new technology company that is building on a heritage of close to 70 years of automotive safety development. Veoneer has 9,200 employees in 13 countries with sales in 2018 of $2.2 billion. Headquartered in Stockholm, Sweden, 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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SOURCE Veoneer