Schaeffler forms joint venture to acquire Paravan's drive-by-wire technology

Schaeffler Group, Roland Arnold and Paravan GmbH signed a master agreement to form a joint venture, Schaeffler Paravan Technologie GmbH und Co. KG, to further develop Paravan's SPACE DRIVE drive-by-wire technology. Schaeffler will hold a 90% stake. The transaction is pending regulatory approval.

“The object of the joint venture company, which will be called Schaeffler Paravan Technologie GmbH und Co. KG, is the further development of Paravan's SPACE DRIVE drive-by-wire technology.”automotiveworld.com

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• automotiveworld.comSchaeffler acquires drive-by-wire technology | Automotive WorldMaisie PriestnerAug 6, 2018

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