Kongsberg Automotive To Acquire Remaining Stake In Chassis Autonomy

(RTTNews) - Kongsberg Automotive ASA (KGAUF, KOA.OL), a Norwegian vehicle industry supplier of technology and systems, on Tuesday announced that through its subsidiary Kongsberg Automotive AS, the company has decided to exercise its call option to acquire the remaining 75% of shares in Chassis Autonomy SBA AB.

The acquisition is expected to be completed this week.

The steer-by-wire market is expected to grow significantly over the next decade, with projections reaching 3.5 billion euros by approximately 2035.

With this acquisition, the company aims to capture a meaningful share of this rapidly expanding market segment.

This move represents a strategic investment in steer-by-wire technology and follows a long-standing, successful collaboration between the two companies.

On Monday, Kongsberg Automotive closed trading, 2.30% lesser at NOK 1.5280 on the Oslo Stock Exchange.