Volvo Cars has taken full ownership of its autonomous driving (AD) software development subsidiary, Zenseact. Immediately prior to the transaction, Volvo Cars owned 86.5 per cent in the firm and has now acquired the remaining stake from ECARX, a global mobility tech company.
The acquisition of the additional shares in Zenseact is a strategic step to owning more of the software powering key functionality going into future cars.
With this transaction, Volvo Cars further clarifies and simplifies Zenseact ownership, making the AD software company a fully owned subsidiary of Volvo Cars. Zenseact will continue to remain and operate as a standalone company and lead development of safety-, advanced driver assistance- and autonomous driving technologies for introduction first in Volvo and Polestar cars.
The ongoing collaboration discussions between Zenseact and ECARX will continue as planned.