Auto tech firm Veoneer teams up with Qualcomm on driver software

By Johannes Hellstrom and Helena Soderpalm
STOCKHOLM (Reuters) - Veoneer <VNE.N> <VNEsdb.ST> will cooperate with Qualcomm Technologies <QCOM.O> on developing a software and chip platform for driver-assistance systems, the auto technology firm said on Thursday, sending its shares sharply higher.
The Swedish maker of vision systems, radar and software for advanced driver-assistance systems (ADAS) said it had signed a non-binding letter of intent with the U.S. firm and expected to finalise a definitive agreement in the second half of this year.
Veoneer's software development strategy, increasingly important with the auto industry in the midst of a rapid transformational shift, has been under scrutiny since it ended its Zenuity software joint venture with Volvo Cars in April.
"This is a significant event for Veoneer which we are very happy to announce,", Carlson told Reuters, ...


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