Schaeffler Acquires Drive-by-Wire Technology for Autonomous Vehicles

German automotive supplier Schaeffler is acquiring drive-by-wire technology Space Drive from Paravan GmbH. Schaeffler said on this will play a key role in self-driving cars. The Schaeffler Group, in cooperation with Roland Arnold and Paravan GmbH, have agreed on a master agreement for the formation of a joint venture company. The transaction is pending regulatory approval…

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