Autoliv, Inc. (NYSE:ALV and SSE:ALIVsdb), the automotive safety systems developer and Volvo Cars, the global car maker, have signed a letter of intent to form a new jointly-owned company to develop next generation autonomous driving software.
Today’s announcement by Volvo and Autoliv is just the latest announcement from the vehicle manufacturer on autonomous technology development. In August the manufacturer announced it was working with Uber to deploy self-driving Volvo XC90 sport utility vehicles in Pittsburgh, Pa.
The planned new company will have its headquarters in Gothenburg, Sweden, and an initial workforce taken from both companies of around 200, increasing to
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