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The latest announcement is out from Kongsberg Automotive Holding ASA ( (KGAUF) ).
Kongsberg Automotive has decided to acquire the remaining 75% of shares in Chassis Autonomy, making it a wholly-owned subsidiary. This strategic move aims to strengthen Kongsberg’s position in the growing steer-by-wire market, projected to reach EUR 3.5 billion by 2035, and enhance its offerings in the electric and autonomous vehicle sectors. The acquisition is expected to provide continuity for Chassis Autonomy’s operations and unlock new opportunities through Kongsberg’s global reach.
The most recent analyst rating on (KGAUF) stock is a Hold with a NOK1.55 price target. To see the full list of analyst forecasts on Kongsberg Automotive Holding ASA stock, see the KGAUF Stock Forecast page.
More about Kongsberg Automotive Holding ASA
Kongsberg Automotive provides cutting-edge technology to the global vehicle industry, focusing on engineering, sustainability, and innovation. Its product portfolio includes driver and motion control systems, fluid assemblies, and industrial driver interface products. Chassis Autonomy, based in Trollhättan, Sweden, develops steer-by-wire road wheel actuators and holds a unique portfolio of intellectual property.
Average Trading Volume: 2,678,908
Current Market Cap: NOK1.48B
For an in-depth examination of KGAUF stock, go to TipRanks’ Overview page.