Veoneer's JV Zenuity Gets Approval for Hands-off Self-driving Tests on Public Roads in Sweden

Veoneer's JV Zenuity Gets Approval for Hands-off Self-driving Tests on Public Roads in Sweden

PR Newswire

STOCKHOLM, Jan.28, 2019

STOCKHOLM, Jan.28, 2019 /PRNewswire/ -- Veoneer, Inc.'s (NYSE: VNE) (SSE: VNE SDB) joint-venture for advanced driver assistance systems (ADAS) and autonomous driving software, Zenuity, gets approval for self-driving tests on public roads in Sweden.

Transportstyrelsen, the Swedish Transport Agency, has approved that Zenuity, the joint venture between Veoneer and Volvo Cars, to do tests with self-driving cars on Swedish highways. The tests will be done by trained drivers, with their hands off the steering wheel at a maximum speed of 80 km/hour.

The routes that have been approved are E4 between Stockholm and Malmö, road 40 between Jönköping and Gothenburg, and E6 between Gothenburg and Malmö.

"The approval to do real-life tests is essential for gathering important data and test functions. It is a strong proof-point for the progress of Zenuity's self-driving capabilities," says Nishant Batra, Veoneer's Chief Technology Officer.

For more information please contact:

Media:

Thomas Jönsson
GVP Communications & IR
Tel +46-(0)8-527-762-27

Investors & analysts:

Thomas Jönsson
Communications & IR
Tel +46-(0)8-527-762-27

Ray Pekar
Investor Relations
Tel +1-(248)-794-4537

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. Veoneer is a new technology company that is building on a heritage of more than 60 years of automotive safety development. Veoneer and its joint-ventures has 8,300 employees in 13 countries. Headquartered in Stockholm, Sweden, Veoneer is listed on the New York Stock Exchange and on 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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http://news.cision.com/veoneer/r/veoneer-s-jv-zenuity-gets-approval-for-hands-off-self-driving-tests-on-public-roads-in-sweden,c2726715

The following files are available for download:

https://mb.cision.com/Main/17380/2726715/982160.pdf

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