VNE - VNE STOCK NEWS

Veoneer, a leader in automotive technology, announced that the Volvo XC40 Recharge, equipped with its advanced safety technology, received the 2021 Top Safety Pick+ award from IIHS. The recognition highlights Veoneer's cutting-edge safety features, including a 4th generation mono vision system, 77GHz front radar, and sophisticated ADAS software, which enhance crash avoidance capabilities. This accolade affirms Veoneer's role as a significant supplier in the automotive safety sector, showcasing its commitment to innovation and safety.

Veoneer (NYSE: VNE) has partnered with emotion3D and AVL to develop the first personalized restraint control technology system under the European Commission's Horizon 2020 funding program. This innovative system aims to enhance safety for all vehicle occupants by customizing airbag deployment based on individual characteristics. Over the next 24 months, the team will leverage 3D sensors to ensure optimal protection in crash scenarios. Currently, passive safety systems are not tailored for different body physiques, leading to higher injury rates, particularly among women and children.

Veoneer, Inc. (NYSE: VNE) has partnered with Swiss Re to enhance the evaluation and development of advanced driver-assistance technologies (ADAS). This collaboration aims to improve road safety systems, potentially reducing the 1.4 million annual fatalities associated with road accidents. Swiss Re's ADAS Risk Score will integrate Veoneer's insights on ADAS performance, aiding insurers and car manufacturers in assessing safety technologies. Veoneer generated $1.37 billion in sales in 2020 and emphasizes safety innovation in the automotive sector.

Veoneer, Inc. (NYSE: VNE) announced that its active safety technology has contributed to the Polestar 2 achieving the highest safety rating in Euro NCAP's tests, earning 5 stars and an overall score above 88%. The vehicle's AEB system is noted for detecting pedestrians and cyclists. Key technologies include Veoneer's advanced monovision camera, front radar, and ADAS ECU, which support features like lane keeping and adaptive cruise control. Additionally, Veoneer is developing its fifth generation perception software under the brand Arriver, aimed at enhancing automotive safety compliance.

Veoneer, a leader in automotive technology, has filed its 2020 Annual Report on Form 10-K with the SEC. The report, along with the 2020 Sustainability Report, is accessible on the SEC's Edgar website and Veoneer's official site. In 2020, Veoneer reported sales of $1.37 billion. The company specializes in advanced driving assistance systems and has a workforce of 7,500 across 11 countries. The press release includes a Safe Harbor Statement cautioning about the uncertainties surrounding forward-looking statements.

Veoneer reported a strong financial performance for Q4 2020, with net sales of $455 million, representing a 17% organic sales increase. Active Safety sales surged by 38%, driven by new product launches. The operating cash flow improved by $27 million year-over-year, with a cash balance of $758 million. For FY 2021, the company anticipates organic sales growth exceeding 25% and expects to end the year with over $400 million in cash. The order intake for 2020 reached approximately $530 million, indicating a positive outlook.

Giuseppe Rosso, VP Engineering Advanced Assisted Driving Systems at Veoneer, has been appointed Chairman of the Autonomous Vehicle Computing Consortium (AVCC). This consortium, established in 2019, includes 19 members from leading OEMs and semiconductor companies, focusing on developing standardized solutions for automated and assisted driving technologies. Rosso emphasized the consortium's goal of accelerating safe and affordable autonomous vehicle deployment. Veoneer advocates for a scalable compute platform to support both supervised and unsupervised autonomous systems, crucial for future market demands.

Veoneer, Inc. (NYSE: VNE) announced on December 17, 2020, that its Chief Technology Officer, Nishant Batra, will leave the company to join Nokia Corporation as Chief Strategy & Technology Officer. Batra, who joined Veoneer in November 2018, will relocate to the United States. Giuseppe Rosso, currently Vice President of Systems & Software, will serve as Acting CTO. The company thanks Batra for his contributions, noting a well-defined technology roadmap in advanced driving assistance systems. Veoneer reported 2019 sales of $1.9 billion, reflecting a strong position in the automotive technology sector.

Veoneer has initiated production of its 4^th generation thermal sensing system, named Night Vision, now featured in the 2021 Cadillac Escalade. This system boasts a wider field-of-view thermal camera, delivering four times the resolution of its predecessor, enhancing road visibility and detection capabilities. The technology can detect objects in low visibility conditions up to 200 meters and significantly reduces carbon emissions during transportation. Veoneer, a leader in automotive thermal sensing systems, continues to expand its market presence with this innovative release.