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
-
FCA Opens the Door to The Future
FCA introduced a high-tech concept vehicle today, the Chrysler Portal, at the event previously known as the “Consumer Electronics Show,” now simply CES.
-
Lincoln Corsair Takes Flight
“We wanted to create a dramatic, youthful Lincoln with terrific harmony.” And with the Corsair, they’ve accomplished what they set out to do.
-
GM Develops a New Electrical Platform
GM engineers create a better electrical architecture that can handle the ever-increasing needs of vehicle systems