Mexican Media Brands
Veoneer Seeks $500 Million Capital Infusion
Veoneer Inc., the former electronics business of Autoliv Inc., aims to raise $500 million to help fund new product development and counter slowing vehicle sales.
#electronics #economics
Share
Veoneer Inc., the electronics business that was spun off from Autoliv Inc. last year, aims to raise $500 million to help fund new product development and counter slowing vehicle sales.
The company posted an operating loss of $128 million for the first quarter, with year-over-year sales for the period falling 17% to less than $500 million. The supplier previously had forecast flat or slightly lower sales during the first quarter.
Veoneer said it had more than $19 billion of new business booked at the beginning of 2019, compared with $16 billion a year earlier. But the company cautions that some programs may be delayed as carmakers push back plans to launch next-generation autonomous vehicle systems that use Veoneer’s sensors and software.
RELATED CONTENT
-
2019 Chevrolet Blazer Premier AWD
The 2019 Chevy Blazer is the most-complete Chevy I’ve ever driven, as in seemingly every detail of the crossover having been carefully considered and appropriately executed, from the front end that has a design the likes of which is absolutely rare in a category of vehicles that is getting more undifferentiated by the moment to even consideration given to the piping on the IP.
-
All About the 2018 Honda Accord
The common wisdom seems to be that midsize cars have pretty much had it in the U.S. new car market.
-
Electric Motors for Aero and Auto
Rolls-Royce—the manufacturer of aircraft engines, not the one that makes high-end vehicles with four wheels—is working with another British company, YASA, on the development of the ACCEL, an electric airplane.