Volvo Cars takes full ownership of Zenseact
Volvo Cars has taken 100 per cent ownership of its autonomous driving (AD) software development subsidiary, Zenseact. Immediately prior to the transaction, Volvo Cars owned 86.5 per cent in the firm and has now acquired the remaining stake from ECARX, a global mobility tech company. The acquisition of the additional 13.5 per cent of shares in Zenseact is a strategic step to owning more of the software powering key functionality going into future cars and supports Volvo Cars’ strategic direction to be a leader in new technology. With this transaction, Volvo Cars further