Volvo Cars bought Zenseact
2023.01.01 05:44
Volvo Cars bought Zenseact
Budrigannews.com – Sweden-put together Volvo Vehicle Stomach muscle said with respect to Saturday it had taken 100 percent responsibility for independent driving (Promotion) programming advancement auxiliary Zenseact.
The acquisition of 13.5% of Zenseact’s shares by Volvo Cars from ECARX made the AD software firm a fully owned subsidiary of the Swedish automaker. Volvo Cars stated that Zenseact will continue to exist independently and function as such.
According to Volvo Cars, the ongoing collaboration discussions between Zenseact and ECARX will continue as planned despite Volvo Cars’ acquisition of ECARX’s shares in the software company.
In 2021, ECARX made a strategic investment in Zenseact and requested a 15% stake in the software company.
In 2021, Zenseact and Luminar Technologies agreed to provide other automakers with a hardware-software system.
More The largest deals on company purchases in 2022
