Volvo Cars is announcing today that it will take full ownership of HaleyTek, a Gothenburg-based developer for Android-powered infotainment systems. Prior to the transaction, Volvo Cars owned 60 per cent of HaleyTek with the remaining 40 per cent held by the global mobility technology company ECARX.
The acquisition of the remaining stake in HaleyTek is a strategic step for Volvo Cars to further strengthen its technological capability in software development for current cars and take ownership over technologies crucial to the company’s future products.
HaleyTek will operate as a standalone company, with its operations in its Gothenburg facilities, and continue collaborating seamlessly with Volvo Cars and ECARX on developing automotive software based on Android, a competence crucial for software defined vehicles. The company is already fully consolidated into the financial reports of Volvo Cars.
HaleyTek was formed as a joint venture between Volvo Cars and ECARX in 2021.
SOURCE: Volvo Cars
