Visteon and Guangzhou Automobile Group of China Automotive Engineering Institute Sign Strategic Cooperation Agreement for Autonomous Driving and Cockpit Electronics Development

LAS VEGAS, Jan. 10, 2018 /PRNewswire/ -- Visteon Corporation (Nasdaq: VC), a global leader in automotive cockpit electronics, today signed a strategic cooperation agreement with Guangzhou Automobile Group Co., Ltd. Automotive Engineering Institute (GAC Engineering), a leading China-based vehicle manufacturer, to develop and deploy autonomous driving and other cockpit electronics solutions.

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Under the agreement, both companies will collaborate on the development of autonomous driving solutions using Visteon's DriveCore™ technology platform introduced at CES^® 2018 on a vehicle program that is planned to be launched in 2020. In addition, both companies will explore potential commercial engagements in instrument clusters, displays, augmented reality head-up displays and domain controllers using Visteon's SmartCore™ technology. Sachin Lawande, president and CEO of Visteon, and Wang Qiujing, president of GAC Engineering, signed the agreement at Visteon's exhibit at CES^® 2018 in Las Vegas, Nevada.

Lawande said: "We are very pleased to engage with GAC, one of the leading vehicle manufacturers in China, on a broad range of autonomous driving and cockpit electronics technology developments. GAC is a fast-growing, highly valued Chinese automobile company with a solid foundation of quality and a proven record of innovation. Its development efforts in intelligent and automated vehicles are fully aligned with those of Visteon, which has a major presence in China."

Qiujing stated: "We are very pleased to be embarking on this collaboration with Visteon. Visteon's technology innovation and strong presence in China is well-aligned with our vision for automotive technology development. We believe that this cooperation with Visteon will play an important role in promoting the rapid development of autonomous driving and cockpit electronics systems."

Initial engagement will focus on development of Level 3 and higher autonomous driving solutions and cockpit domain controller systems using Visteon's industry-leading DriveCore^™ and SmartCore^™ technology platforms. The cooperative agreement with GAC furthers Visteon's efforts to develop technology solutions addressing industry trends such as digitization of the cockpit, consolidation of cockpit electronics components, and the transition to autonomous vehicles.

About Visteon

Visteon is a global technology company that designs, engineers and manufactures innovative cockpit electronics products and connected car solutions for most of the world's major vehicle manufacturers. Visteon is a leading provider of instrument clusters, head-up displays, information displays, infotainment, audio systems, SmartCore™ cockpit domain controllers, and vehicle connectivity. Visteon also supplies embedded multimedia and smartphone connectivity software solutions to the global automotive industry. Headquartered in Van Buren Township, Michigan, Visteon has approximately 10,000 employees at more than 40 facilities in 18 countries. Visteon had sales of $3.16 billion in 2016. Learn more at www.visteon.com.

Visteon in China

Visteon has had a presence in China for nearly 25 years, and today China is the company's fastest-growing market. Supporting its mission to enable a rich driving experience in a safe and convenient manner, Visteon is bringing advanced technologies and high-quality products to vehicle manufacturers in China. Visteon serves the China market through joint ventures, with 10 manufacturing facilities, four technology centers and one customer service center.

About GAC Engineering

Guangzhou Automobile Group Co., Ltd. Automotive Engineering Institute (GAC Engineering) was established in 2006. As the pivot of GAC's research and development system and the technical management division for GAC's headquarters, GAC Engineering is responsible for GAC's strategic planning, implementation of new technology and new products R&D.

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SOURCE Visteon Corporation