In a strategic move to expand its autonomous driving product portfolio, Kongsberg Automotive AS (KA), a major Norwegian company, has acquired a 20% stake in Chassis Autonomy SBA AB (Chassis Autonomy) through a directed rights issue.
Chassis Autonomy, a spin-off from NEVS (National Electric Vehicle Sweden), specializes in the design and development of steer-by-wire and brake-by-wire systems for highly automated (L3) and fully autonomous (L4 and L5) vehicles, as well as agriculture and construction applications.
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The Acquisition and Partnership
Founded by Peter Johansson, whose father, Sigvard Johansson, had a longstanding career at Saab and made significant contributions to chassis and suspension systems, Chassis Autonomy holds immense promise in the field of autonomous driving. Peter Johansson’s expertise and experience in the automotive industry, including his pivotal role in integrating Haldex four-wheel drive into Saab’s 9-3, have solidified his position as a key figure in the evolution of vehicle technology.
With the acquisition of a 20% stake in Chassis Autonomy, Kongsberg Automotive is signaling its commitment to being at the forefront of autonomous driving solutions. The agreement also includes call options that could lead to full ownership of Chassis Autonomy within the next four years, demonstrating KA’s confidence in the company’s potential.
In addition to the equity investment, Kongsberg Automotive has entered an exclusive partnership collaboration with Chassis Autonomy. This collaboration aims to foster mutual growth and capitalize on each other’s strengths. By leveraging Chassis Autonomy’s expertise in steer-by-wire and brake-by-wire systems, combined with KA’s proven track record as a tier 1 and tier 2 supplier in off-highway vehicles and various automotive segments, the two companies seek to revolutionize the autonomous driving landscape.
Chassis Autonomy’s Unique Technology
One of the key selling points of Chassis Autonomy’s technology is its ‘fail-operational’ nature. This means that even in the event of a system fault or failure, the technology ensures continued functionality, especially in critical areas like steering. Unlike traditional systems that might require an emergency stop in case of a failure, Chassis Autonomy’s proprietary technology allows the vehicle to maintain steering functionality, increasing safety and reducing potentially dangerous situations.
The patent-protected technology has the potential to bring significant advancements to autonomous driving and addresses concerns about the reliability and safety of self-driving vehicles. By providing customers with fail-operational steer-by-wire solutions, Kongsberg Automotive aims to help them prepare for autonomous driving (L3-5) in both road and farming vehicles.
Future Goals and Growth Ambitions
Chassis Autonomy has set ambitious goals for itself, aiming to achieve a valuation of USD 1 billion and become a unicorn company within the next five years. With Peter Johansson and Thomas Li continuing in their roles as CEO and CTO, respectively, the company is poised for sustained growth and innovation. Their roles as major shareholders further underscore their commitment to the company’s vision.
The agreement with Kongsberg Automotive offers Chassis Autonomy the necessary financial support to invest in crucial areas such as product development, specifically focusing on control electronics and software. The expertise and capabilities of Kongsberg Automotive will also be made available to Chassis Autonomy, expediting their growth journey and ensuring the successful commercialization of products embodying Chassis Autonomy’s groundbreaking technology.
Saab’s experience in some new cars
Kongsberg Automotive’s investment in Chassis Autonomy marks a significant step in the advancement of autonomous driving technology. By partnering with a company led by an industry veteran like Peter Johansson, who has roots in Saab’s history and a legacy of innovation in the field of vehicle dynamics, KA is positioning itself to be at the forefront of autonomous driving solutions.
The partnership not only aligns with the broader industry trend towards autonomous driving but also addresses critical concerns about safety and reliability in self-driving vehicles. With Chassis Autonomy’s fail-operational technology, the companies are empowering customers to embrace autonomous driving with confidence, knowing that even in the face of system faults, the technology will keep vehicles safe and operable.
As both Kongsberg Automotive and Chassis Autonomy work in tandem to unlock the market potential of autonomous driving solutions, the future of self-driving vehicles becomes increasingly promising, with the potential to reshape transportation and mobility as we know it.
