Kongsberg Automotive to become part owner of Chassis Autonomy

Chassis Autonomy is developing a world-unique control system that paves the way for fully autonomous vehicles. Through a non-binding agreement, it is clear that the global group Kongsberg Automotive AS (KA) will enter as a partner in the Trollhättan startup and acquire 20% of the company.

Through call options, they will also be given the opportunity to buy the entire company in the future. All binding agreements related to the deal are expected to be finalized in Q3 2023.

- I am incredibly proud that we today can announce that we have entered into a non-binding agreement with KA that they enter as a 20% shareholder. This is a natural step towards industrialization of our steer by wire system for autonomous vehicles according to level 3 (condition automation), level 4 (high automation) and level 5 (full automation). We are extra proud that it finally became KA. They complement us well and are an established manufacturer of vehicle components and systems with production all over the world. They have a strong presence in both Sweden and Norway. They also share our vision of the future, which puts Trollhättan and our region on the world map as an innovation center, says Peter Johansson, CEO and co-founder of Chassis Autonomy.

Important step towards industrialization

Autonomous vehicles place high demands 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 a technology that meets the EU's new legal requirements for autonomous vehicles (Regulation 2022/1426/EU).

Through the partnership with KA, the goal is to accelerate the development to be able to mass produce the technology so that vehicle manufacturers can implement it in their autonomous vehicles.

- KA has both technology, manufacturing experience and the capacity to produce and industrialize our product. The goal is to accelerate the development of safe autonomous vehicles, says Peter.

The technology will enable vehicle manufacturers to implement the maneuvering system in level 3 autonomous vehicles and feel confident that the same product meets the requirements all the way up to level 5 - which means fully automated vehicles.

Founded in 2021 & developed rapidly

Chassis Autonomy was founded in 2021 and was admitted to our incubator the same year . Since then, development has proceeded at a rapid pace.

In the spring of 2022, Immetric Invest joined as the first investor. In August 2022, a Letter of Intent was signed between KA and Chassis Autonomy. In December, it was clear that Chassis Autonomy will receive 2.5 million euros in grants from the EU's EIC Accelerator program as the innovation is considered to be of strategic importance to enable fully autonomous vehicles within the EU. Before Christmas, the company also received the award as Startup of the Year in Trollhättan.

- We at Innovatum Science Park are incredibly happy and proud of Chassis Autonomy's achievements. Through this non-binding agreement, they are taking another important step towards making a huge societal difference. In addition, they are putting Trollhättan and our entire region on the world map. It's fantastic," says Eivind Vogel-Rödin, Head of Startup Operations at Innovatum Science Park.