Arriver™ to Support Qualcomm's Technology Collaboration With BMW With Vision Perception Software for Automated Driving
Arriver, the software unit of Veoneer, has announced a partnership with Qualcomm Technologies to provide Vision Perception software for BMW's Snapdragon Ride™ Platform. Production is expected to start in 2025 and will feature deep learning algorithms for enhanced vision capabilities. CEO Jan Carlson highlighted the significance of this collaboration, emphasizing its potential to improve driver safety and convenience. Veoneer, which reported $1.37 billion in sales in 2020, specializes in advanced automotive safety technologies.
- Strategic partnership with Qualcomm and BMW enhancing market position.
- Focus on advanced driver assistance systems is likely to attract OEMs.
- Potential revenue generation from new technologies starting in 2025.
- Long timeline until production start in 2025 could delay revenue realization.
- Dependence on Qualcomm's technology performance may pose risks.
STOCKHOLM, Nov. 22, 2021 /PRNewswire/ -- Arriver, the ADAS and AD software unit of Veoneer, announces today that, via its existing Master Collaboration Agreement with Qualcomm Technologies, Inc., will provide Vision Perception software as part of Qualcomm Technologies' announcement with BMW to bring the latest advancements in driver assistance technologies, and products of its Snapdragon Ride™ Platform to BMW.
Arriver's vision perception software will be running on the Snapdragon Ride™ Platform, a product of Qualcomm Technologies. The start of production is slated for 2025. The collaboration contemplates, but is not limited to, the deployment of deep learning algorithms for vision perception with a full suite of vision functions.
"We are honored to have the opportunity to partner with Qualcomm Technologies and BMW for Arriver's next generation vision software," says Jan Carlson, Chairman, President and CEO, Veoneer. "This is a testament to the hard work and dedication of our teams. We look forward to continuing collaboration with Qualcomm Technologies to enable automakers to bring more safety and convenience benefits to drivers."
Snapdragon and Snapdragon Ride are trademarks or registered trademarks of Qualcomm Incorporated.
Snapdragon Ride is a product of Qualcomm Technologies, Inc. and/or subsidiaries.
For more information please contact:
Thomas Jönsson, EVP Communications & IR,
thomas.jonsson@veoneer.com, tel +46 (0)8 527 762 27
Veoneer, Inc. is a worldwide leader in automotive technology. Our purpose is to create trust in mobility. We design, develop, and manufacture state-of-the-art software, hardware and systems for occupant protection, advanced driving assistance systems, and collaborative and automated driving to OEMs globally. Headquartered in Stockholm, Sweden, Veoneer has 7,500 employees in 11 countries. In 2020, sales amounted to
Arriver
Arriver, a software unit and brand which will be fully focused on further developing perception, fusion and drive policy software for the next generation cars. It builds on more than a decade of experience in Active Safety software development and will deliver an open, scalable and flexible architecture solution running on Qualcomm® Snapdragon Ride™ System on a Chip (SoC) platform. Arriver is a wholly owned unit within Veoneer (NYSE: VNE and SSE: VNE-SDB).
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
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