China's Geely selects Swedish software firm as driverless car supplier

China's Geely has picked Zenuity, a joint venture between its Volvo car mar...

FILE PHOTO: The logo of Chinese carmaker Geely Auto is pictured at the second media day for the Shanghai auto show in Shanghai, China April 17, 2019. REUTERS/Aly Song/File Photo

Regulatory and technological challenges as well as soaring development costs mean carmakers have delayed forecasts for the mass adoption of self-driving cars and the Geely deal is a welcome boost for Zenuity. Sweden’s Veoneer said earlier this year it was conducting a review and seeking new efficiency measures at Zenuity, as well as raising cash to shore up its working capital.

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