Skip to Content
Global News Select

Veoneer Shares Jump After Collaboration Plans With Qualcomm

By Robb M. Stewart

Automotive technology company Veoneer Inc.'s shares rallied Thursday after it struck a deal to collaborate with Qualcomm Technologies Inc. on autonomous driving technologies.

In morning trading, the shares were up 18% to $12.91. They have fallen 17% year-to-date.

Veoneer said the companies would team up on the delivery of driver-assistance systems and autonomous driving solutions powered by Veoneer's perception and driving-policy software stack and Qualcomm's Snapdragon Ride portfolio.

The open and programmable platform that both companies intend to develop will be designed to create alternatives for automakers for more customization opportunities, and the companies expect the integrated platform to be available through automotive suppliers or directly to manufacturers for 2024 vehicle production.

The companies have signed a non-binding letter of intent and expect to finalize a definitive agreement during second half of 2020.

Qualcomm's shares were little changed early, up 0.1% at $116.18.

Write to Robb M. Stewart at robb.stewart@wsj.com

(END) Dow Jones Newswires

August 27, 2020 10:59 ET (14:59 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.

Transparency is how we protect the integrity of our work and keep empowering investors to achieve their goals and dreams. And we have unwavering standards for how we keep that integrity intact, from our research and data to our policies on content and your personal data.

We’d like to share more about how we work and what drives our day-to-day business.

We sell different types of products and services to both investment professionals and individual investors. These products and services are usually sold through license agreements or subscriptions. Our investment management business generates asset-based fees, which are calculated as a percentage of assets under management. We also sell both admissions and sponsorship packages for our investment conferences and advertising on our websites and newsletters.

How we use your information depends on the product and service that you use and your relationship with us. We may use it to:

  • Verify your identity, personalize the content you receive, or create and administer your account.
  • Provide specific products and services to you, such as portfolio management or data aggregation.
  • Develop and improve features of our offerings.
  • Gear advertisements and other marketing efforts towards your interests.

To learn more about how we handle and protect your data, visit our privacy center.

Maintaining independence and editorial freedom is essential to our mission of empowering investor success. We provide a platform for our authors to report on investments fairly, accurately, and from the investor’s point of view. We also respect individual opinions––they represent the unvarnished thinking of our people and exacting analysis of our research processes. Our authors can publish views that we may or may not agree with, but they show their work, distinguish facts from opinions, and make sure their analysis is clear and in no way misleading or deceptive.

To further protect the integrity of our editorial content, we keep a strict separation between our sales teams and authors to remove any pressure or influence on our analyses and research.

Read our editorial policy to learn more about our process.