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Equity Method Investment
 6 Months Ended
Jun. 30, 2019
Equity Method Investments and Joint Ventures [Abstract]  
Equity Method Investment Equity Method Investment
As of June 30, 2019, the Company has one equity method investment, which is in Zenuity, a 50% ownership joint venture with Volvo cars.
During the second quarter of 2019, Veoneer contributed SEK 100 million (approximately $11 million) in cash (representing 50% of the total contribution, with the remainder made by Volvo Cars) into Zenuity to support its future operating cash flow needs.
During the first quarter of 2018, Veoneer contributed SEK 600 million (approximately $71 million) in cash (representing 50% of the total contribution, with the remainder made by Volvo Cars) into Zenuity to support its future operating cash flow needs.
The profit and loss attributed to the investment is shown in the line item Loss from equity method investment in the Unaudited Condensed Consolidated Statements of Operations. Veoneer’s share of Zenuity’s loss for the three and six months ended June 30, 2019 was $18 million and $35 million, respectively. Veoneer’s share of Zenuity’s loss for the three and six months ended June 30, 2018 was $16 million and $30 million, respectively. As of June 30, 2019 and December 31, 2018, the Company’s equity investment in Zenuity was $73 million and $101 million, respectively, after consideration of foreign exchange movements.
Certain unaudited summarized income statement information of Zenuity, for the three and six months ended June 30, 2019 and 2018, is shown below:
 
Three Months Ended June 30
 
Six Months Ended June 30
(Dollars in millions)
2019
 
2018
 
2019
 
2018
Net sales
$
—

 
$
2

 
$
1

 
$
3

Gross profit
—

 
—

 
—

 
—

Operating loss
(35
)
 
(32
)
 
(69
)
 
(60
)
Loss before income taxes
(35
)
 
(32
)
 
(69
)
 
(60
)
Net loss
(36
)
 
(32
)
 
(69
)
 
(60
)