Volvo Cars Takes Full Ownership of Autonomous Driving Software Group Zenseact

Volvo Cars has taken 100 per cent ownership of its autonomous driving (AD) software development subsidiary, Zenseact. It already owned 86.5 per cent of the firm and has now acquired the remaining stake from ECARX, a global mobility tech company.

Volvo Cars say the  USD 115 million acquisition is a strategic step to owning more of the software powering key functionality going into its future.

Zenseact will continue to remain and operate as a standalone company and lead development of safety-advanced driver assistance and autonomous driving technologies for introduction first in Volvo and Polestar cars.

The ongoing collaboration discussions between Zenseact and ECARX will continue as planned. 

The co-founders of ECARX are Chairman and CEO Ziyu Shen and Eric Li (Li Shufu), who is also the founder and chairman of Zhejiang Geely Holding Group (Geely), one of the largest automotive groups in the world that holds ownership interest and investment in international brands such as Lotus, Lynk & Co, Polestar, smart and Volvo Cars.   

In a press statement, ECARX says: 'The share-sale will allow ECARX to accelerate the development of its core technology, a vertically integrated full-stack computing platform, while working with key partners to integrate the broader technology required to fully realize the benefits of connected and automated vehicles. ECARX retains its agreement with Zenseact to explore collaborations between the companies'.

Volvo Cars' production plants are located in Gothenburg, Ghent (Belgium), South Carolina (US), Chengdu, Daqing and Taizhou (China).

The company also has R&D and design centres in Gothenburg, Camarillo (US) and Shanghai (China).