Autoliv & Volvo Partner With NVIDIA For Self-Driving Cars

Auto safety supplier Autoliv, Inc. (NYSE:ALV) and Volvo Cars have inked a deal with NVIDIA Corporation (NASDAQ:NVDA) to develop next-generation software systems for self-driving cars. The new software system will help in using artificial intelligence to recognize objects around vehicles, predict danger and depict safety roadmap. This will bring two respected automotive safety companies with a leading artificial intelligence company.

A newly formed automotive software development joint venture, Zenuity, which is equally owned by Autoliv and Volvo, will team up with Santa Clara, CA-based NVIDIA to bring level 4 autonomous driving to the market by 2021.

Per the deal, Autoliv, Volvo, and Zenuity will use NVIDIA's AI car computing platform as the foundation for their own advanced software development. The three companies share the same vision of safe, autonomous driving. This cooperation will advance autonomous driving product and solution offerings to the market.

Stockholm, Sweden-based Autoliv has outperformed the Zacks categorized Automotive - Original Equipment industry in the last three months. The company’s share price has increased 6.7%, while the industry has gained 1.9%.



Currently, both Autoliv and NVIDIA carry a Zacks Rank #3 (Hold).

Some better-ranked stocks in the auto space include Ferrari N.V. (NYSE:RACE) and Allison Transmission Holdings, Inc. (NYSE:ALSN) . While Ferrari sports a Zacks Rank #1 (Strong Buy), Allison Transmission Holdings carries a Zacks Rank #2 (Buy).

You can see the complete list of today’s Zacks #1 Rank stocks here.

Expected long-term growth rate for Ferrari and Allison Transmission Holdings are 14.1% and 11%, respectively.

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Autoliv, Inc. (ALV): Free Stock Analysis Report

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NVIDIA Corporation (NVDA): Free Stock Analysis Report

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