We are pleased to announce the signing of a Letter of Intent with global tier 1 supplier Kongsberg Automotive. This agreement signals an intention for a potential long-term commercial collaboration for the development, manufacture, and sales of our ground-breaking, fail-operational electromechanical actuation systems for autonomous vehicles.
PRESS RELEASE – KONGSBERG AUTOMOTIVE + CHASSIS AUTONOMY COLLABORATION
Chassis Autonomy signs a collaboration agreement with Kongsberg Automotive
Trollhättan, August 25th, 2022:
Chassis Autonomy (CA) has signed a Letter of Intent (LOI) with global tier 1 supplier Kongsberg Automotive on a potential long-term commercial collaboration for the development, manufacture and sales of our ground-breaking, fail-operational electromechanical actuation systems for autonomous vehicles.
CA and Kongsberg Automotive see significant opportunities for bilateral leveraging of competency, capacity and facilities between the parties for the growing autonomous market segment.
“Since our spin-off from an automotive OEM less than one year ago, CA has seen significant traction within the autonomous mobility sector. We have firmly established the critical market need for our fail-operational, by-wire systems that will define the new state-of-the-art for automotive actuation,” said Peter Johansson, Co-founder and CEO.
“this LOI is the precursor to a potential legally binding agreement that will be transformative to CA and enable us to execute our vision to really enable autonomous mobility through actuation.”
Thomas Li, Co-founder and CTO added, “this LOI follows on from initial discussions with Kongsberg Automotive where we identified clear technical and commercial synergies, starting with our CS1 steer-by-wire actuation system. We look forward to engaging with the team at Kongsberg Automotive to explore in more detail, the potential future collaboration.”
The LOI signed between CA and Kongsberg Automotive provides the framework for detailed discussions concerning the cooperation and the support structure between the parties. The future legally binding agreement(s) will set out the collaborative structure and may include Kongsberg Automotive taking an equity stake in CA.
The aforementioned discussions are expected to commence immediately.
About Chassis Autonomy
Chassis Autonomy is a deep technology start-up with a vision to enable autonomous mobility through actuation. Our fail-operational, steer and brake-by-wire systems will set the benchmark and define the new state-of-the-art for safe actuation systems that are used in highly automated and fully autonomous vehicles.
About Kongsberg Automotive ASA
Kongsberg Automotive provides cutting-edge technology to the global vehicle industry. We drive the global transition to sustainable mobility by putting engineering, sustainability, and innovation into practice. Our product portfolio includes driver and motion control systems, fluid assemblies, and industrial driver interface products. Find more information at: kongsbergautomotive.com
For more information, please visit: chassisautonomy.com
CA media contact: Max Pearce- firstname.lastname@example.org