SACCNY’s Latest Gold Member
Veoneer, the world’s largest pure-play company in Advanced Driver Assist Systems (ADAS) and Autonomous Driving (AD), has just become a SACCNY gold member. Learn more about how it transforms the automotive industry.
SACCNY is excited to welcome Veoneer to the network. Upon this delightful announcement, here is what you need to know about the latest gold member.
Veoneer is a spin-off of another important company: Autoliv—the world’s largest automotive safety supplier from Sweden with sales to leading car manufacturers around the globe. The idea of Veoneer came about when Autoliv’s Board of Directors wanted to expand its Electronics business segment in the form of a new, independent, publicly-traded company. Beyond delivering more benefits to shareholders and other stakeholders, the result is two independently focused companies addressing “two distinct, growing markets with leading product offerings,” explains Thomas Jönsson, Executive Vice President Communications & IR at Veoneer.
Soon after Veoneer was established, the company achieved several major milestones—registering its name in January, operating as a stand-alone company by April, and getting stock-listed by July—according to Jönsson. Moving forward, “The active safety market is expected to grow for many years to come and we look forward to being part of that growth,” Jönsson continues. The company will be at the center of an important transformation, marked by three megatrends reshaping the automotive industry—automated driving and connectivity, new mobility, and electric vehicles.“Our purpose is to create trust in mobility,” Jönsson said. “Today, parents do not think twice about putting their baby in a child seat and then drive them to pre-school. But what would it take for a parent to put the kid in a fully autonomous car and send the car off to school? What is needed to create that kind of trust?”
The company’s innovative work and cutting-edge technology can help achieve UN Sustainable Goal #3: Good Health and well-being. Through developing future technologies for Advanced Driver Assistance Systems (ADAS) and Autonomous Driving, plus leading the market in automotive safety electronics products, Veoneer will be a key contributor to “reducing global deaths and injuries from road traffic accidents by 50%.” With confidence, Jönsson notes, “We believe that the SDG #3 can be better achieved if all cars around the world are equipped not only with airbags, seatbelts, and automatic emergency brakes but also with advanced driver assist systems as well as the next generation of self-driving technologies.”
Given there are 1.4 million deaths globally attributed to road-related accidents every year, there is no question about the importance of Veoneer’s work. At SACCNY, we are more than just proud of this gold member’s success, we celebrate their mission and are intent on helping Veoneer reach its goals and progress to the next level. While facing the industry’s rapid transformation, the company will seek more partnership and collaborative opportunities in order to create the best car solutions to manufacturers and end users, according to Jönsson. Now, more than ever, Veoneer will need a robust network to bring new people and opportunities to the fore. This is how SACCNY comes into the picture. Considering Autoliv’s positive experience with SACCNY, the New York Stock Exchange (NYSE)- and Nasdaq Stockholm-listed company, feels like it is “a natural and important decision to join the biggest Swedish-American business network,” explains Jönsson.
After all, as a company aware of its impact on the environment and who takes its commitment to its employees and ethical behavior seriously, Veoneer wants to partner with companies that are equally committed to active safety, and autonomous driving, particularly in the areas of software and algorithmic development.
Therefore, being part of the right network is key. “We believe one of the most tangible benefits of joining the SACCNY network is the connection between a relatively large company like ours and small, innovative companies that can provide new ideas,” Jönsson concludes, “and we look forward to taking an active role in co-creation and collaborations with other members in SACCNY’s network.”
EVP Communications & IR