Chassis Autonomy receives €2.5 million from the EU

Trollhättan start-up Chassis Autonomy is developing a maneuvering system that can pave the way for fully autonomous vehicles. They are now receiving a €2.5 million grant from the EU's EIC Accelerator program. The EU will also invest €4 million in the company if it is matched with private or external capital. The innovation is considered to be of strategic importance to enable fully autonomous vehicles in the EU.

- It feels like a major breakthrough and is a recognition of our "Steer by wire" technology! We have been reviewed in three different instances by leading experts in the EU. They have reviewed our technology but also looked at the company from an investor perspective and potential social benefits and jobs that we can create in Sweden and the EU, says Peter Johansson, CEO and co-founder of Chassis Autonomy.

For autonomous vehicles, high demands are placed on safety-critical systems such as steering and braking. In the event of engine failure or other serious breakdowns, Chassis Autonomy's technology ensures that the vehicle can handle the situation, continue driving and stop in a safe place. The company is currently the only one with technology that meets the new EU legal requirements for autonomous vehicles (Regulation 2022/1426/EU).

- Under the new EU legal requirements, the vehicle cannot stop just anywhere in the event of a breakdown. The system must be super safe and there must be a back-up, just like on airplanes. Without this, autonomous vehicles can never operate on major roads!

Recruiting up to 15 people after Christmas

Chassis Autonomy will use the EU funding for product development and to take the innovation to the industrialization phase.

- The goal is to start production in 2025 - 2026, so immediately after Christmas we will start recruiting 10-15 people. The focus will be on finding Project Engineers and Embedded Software Engineers, but also a Chief Financial Officer, Peter continues.

The decision from the EU also includes a written commitment to invest 4 million euros in Chassis Autonomy provided that the same amount is matched by private or external capital.

- The EU wants to step in as a funder to reduce the investment risk for external investors, especially in the start-up phase, and to ensure that our innovation can be completed. Our work to find external funders will start soon! The EU's investment makes us well prepared to have a system for autonomous vehicles according to levels 4 and 5 that meet the new EU legal requirements.

Rapid development

Chassis Autonomy was founded in 2021 and was admitted to the incubator at Innovatum Science Park in Trollhättan in the same year, where it is now receiving support. In the spring of 2022, Immetric Invest joined as the first investor and in August the company entered into a collaboration with Kongsberg Automotive.

- The team behind Chassis Autonomy has made an impressive journey in just 14 months and their technology really has the potential to make a big difference. The fact that they are already creating up to 15 jobs in our region feels great," says Eivind Vogel-Rödin, Head of Startups at Innovatum Science Park.