February 5, 2020 / 8:01 AM / 14 days ago

Veoneer picked to supply active safety system for Asian carmaker

STOCKHOLM, Feb 5 (Reuters) - Swedish auto technology firm Veoneer said on Wednesday it had been picked by a global Asia-based carmaker to supply a vision and radar based active safety system.

The new contract comes after Veoneer on January 3 reported that order intake for 2019 more than halved from the 2018 level, blaming timing delays for a weak end to the year.

“We are truly honoured to be selected by yet another global automaker to develop and build a state-of-the-art active safety system,” Veoneer CEO Jan Carlson said in a statement.

Veoneer said it expected to begin delivering the system in 2022.

“This is the eighth customer for Veoneer’s in-house developed vision system,” the company said. (Reporting by Johannes Hellstrom; Editing by Simon Johnson)

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