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
-
What the VW ID. BUGGY Indicates
Volkswagen will be presenting a concept, the ID. BUGGY, a contemporary take on a dune buggy, based on the MEB electric platform that the company will be using for a wide array of production vehicles, at the International Geneva Motor Show.
-
On the 2016 Chevrolet Camaro: The Sixth Generation
The fifth-generation Camaro brought the nameplate back from what could have been oblivion. The sixth is taking it in the right direction.
-
TRW Multi-Axis Acceleration Sensors Developed
Admittedly, this appears to be nothing more than a plastic molded part with an inserted bolt-shaped metal component.