Autoliv new electronics spinoff company to be named Veoneer
Autoliv announced that the new electronics spinoff company will be named Veoneer. In December 2017, Autoliv's Board of Directors decided to continue with the spinoff of its Electronics business segment - now to be named Veoneer - creating a new, independent publicly traded company during the third quarter of 2018. Veoneer's ambition is to be a leading system supplier for ADAS and autonomous driving as well as a market leader in automotive safety electronics products. When publicly listed, Veoneer's offering will include safety electronics, sensors and software for active safety, advanced driver assistance systems and autonomous driving as well as advanced brake control solutions. After the spinoff, Autoliv's current Passive Safety segment will continue to operate under the Autoliv name, with continued listings on the New York Stock Exchange and Nasdaq Stockholm. The spinoff is expected to be completed during the third quarter of 2018 subject to market, regulatory and certain other conditions, including approval by Autoliv's Board of Directors. There can be no assurance regarding the ultimate timing of the spinoff or that the spinoff will ultimately occur.