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Volvo Car AB had acquired 13.5 percent of its autonomous driving (AD) software development subsidiary Zenseact from ECARX, to make it the AD software company a fully owned subsidiary of the Swedish automaker.
According to Volvo, Zenseact will continue to remain and operate as a standalone company.
Volvo added that the ongoing collaboration discussions between Zenseact and ECARX will continue as planned.
ECARX strategically invested in Zenseact in 2021. from where it asked for a 15 percent shareholding in the software firm.
