The new company formed for the joint venture will develop autonomous drive systems and advanced driver assistance systems, which will be used in Volvos and will also be sold by Autoliv to automakers globally. The unnamed startup will be based in Sweden and will be comprised of roughly 200 employees from both companies with the number increasing to 600 in the future. Operations are expected to start at the beginning of next year.
The advanced driver assistance systems are expected to hit the market by 2019 with the automated driving technology set to debut a few years later in 2021. The partnership isn't really surprising as Volvo has been on a tear to partner with any company that has interests in autonomous systems. The Swedish automaker recently announced a $300 million project with Uber that would result in a "base car" that both companies could use to develop autonomous technology.
Autoliv currently provides safety technology, which includes seat belts and airbags for roughly 100 automakers. The company's recent work in active safety led it to exploring autonomous technology including computer vision and LiDAR. Autoliv and Volvo have worked together on semi-autonomous features before including the automaker's current "Drive Me" offering that is currently being tested.