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Chassis Autonomy welcomes Kongsberg Automotive as a key investor with 20% stake acquisition

Chassis Autonomy welcomes Kongsberg Automotive as a key investor with 20% stake acquisition

SETsquared Scale-Up member Chassis Autonomy has signed an investment agreement with Kongsberg Automotive AS (KA) in which KA acquires a 20% equity stake in Chassis Autonomy. The agreement includes staged call options, with the potential for KA to acquire further equity in the company over the next four years. It also involves a collaboration with KA to drive company growth and maximise market potential.

Chassis Autonomy specialises in the design, development, and manufacture of fail-operational steer-by-wire and brake-by-wire systems for use in highly automated (L3) and fully autonomous (L4 and L5) vehicles. The ground-breaking SbW technology is built upon a foundation of innovation, backed by 13 pending patents, and it will set the new state-of-the-art for critical automotive actuation systems.

KA has demonstrated its success as a well-established tier 1 and 2 supplier in various segments of the automotive industry, therefore bringing significant experience and expertise into this strategic partnership. KA will be the dedicated partner for the production and commercialisation of products incorporating Chassis Autonomy’s cutting-edge technology.

These technical and commercial synergies form the foundations of this partnership and will accelerate the development of Chassis Autonomy’s fail-operational steer-by-wire systems towards industrialisation.

Chassis Autonomy founders Peter Johansson and Thomas Li will remain major stakeholders and retain their respective positions of CEO and CTO in the company.

Peter Johansson, Co-founder and CEO of Chassis Autonomy said: “Today we announce an investment from Kongsberg Automotive that is the most significant milestone for Chassis Autonomy to date. It will cement our leading market position to disrupt the status quo and deliver true fail-operational steer-by-wire to the highly automated and fully autonomous vehicle sectors. The entire Chassis Autonomy team has worked tirelessly over the last 20 months to advance our technology at breakneck speed, and part of this deal includes a deep technical collaboration that will further accelerate development with access to Kongsberg Automotive’s world-class engineering facilities and expertise.”

Thomas Li, Chassis Autonomy Co-founder and CTO added, “As a disruptive deep-technology start-up, innovation is part of our DNA. We’ve created waves across the industry since our inception by directly challenging the oligopoly of legacy steering system suppliers. This investment and collaboration ensures that we will meet our development milestones, and more importantly, provide us with access to Kongsberg Automotive’s world-class technical facilities and engineering expertise to accelerate product development to series production with automotive grade quality.”

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