(Stockholm, Sweden, and Shanghai, China, October 24, 2022) – Autoliv China, a subsidiary of the worldwide leader in automotive safety systems, Autoliv, Inc. (NYSE: ALV and SSE: ALIVsdb), and Geely Auto Group, a leading global automobile manufacturer, have entered a strategic cooperation agreement to develop advanced safety technology for future vehicles. The collaboration includes a system approach to automotive safety and will cover 16 technologies. The objective is to develop products that will meet the future demand for safer vehicles and to save more lives.
The automotive industry is experiencing an intensive phase of transformation. Global megatrends like sustainability, automation, electrification, and micromobility are shaping the future transport system. As these trends and new technologies reshape the mobility landscape, staying competitive requires agility, innovation, and disruptive strategies.
The new cooperation between Autoliv and Geely is expected to accelerate the launch of new advanced safety technologies to the market. The scope of the cooperation includes safety for high-level autonomous driving, intelligent steering wheel technology, a 360° occupant safety system, and the development of a sustainable leather replacement.
“The new cooperation between Autoliv and Geely shows our common intention to speed up the process of going to market with new safety technology that will save more lives. Geely is a strong player in a very dynamic and transformative industry, and I am pleased that we have established this cooperation in China. Our shared commitment to sustainability underpins and supports our collaboration”, said Sng Yih, President, Autoliv China.
“This strategic collaboration marks another milestone for Geely and Autoliv and gives us the opportunity to create cars with a new level of safety technology. Through our close cooperation, both Geely and Autoliv can increase our respective innovation capacity and technical competitiveness in the automotive market,” said Guowang Kang, Vice President, Geely Auto.
Autoliv and Geely first began working together in 2002 which has since generated numerous advanced technologies, including a pre-pretensioner seatbelt and a steering wheel with hands off detection technology. The new collaboration is non-exclusive.
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About Autoliv
Autoliv, Inc. (NYSE: ALV; Nasdaq Stockholm: ALIV.sdb) is the worldwide leader in automotive safety systems. Through our group companies, we develop, manufacture and market protective systems, such as airbags, seatbelts, and steering wheels for all major automotive manufacturers in the world as well as mobility safety solutions, such as pedestrian protection, connected safety services and safety solutions for riders of powered two wheelers. At Autoliv, we challenge and re-define the standards of mobility safety to sustainably deliver leading solutions. In 2021, our products saved close to 35,000 lives. Every year our products prevent more than 300,000 severe injuries.
Our more than 60,000 associates in 28 countries are passionate about our vision of Saving More Lives and quality is at the heart of everything we do. We drive innovation, research, and development at our 14 technical centers, with their 20 test tracks. Sales in 2021 amounted to US $ 8.2 billion. For more information go to www.autoliv.com.
Safe Harbor Statement
This report contains statements that are not historical facts but rather forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include those that address activities, events or developments that Autoliv, Inc. or its management believes or anticipates may occur in the future. All forward-looking statements are based upon our current expectations, various assumptions and data available from third parties. Our expectations and assumptions are expressed in good faith and we believe there is a reasonable basis for them. However, there can be no assurance that such forward-looking statements will materialize or prove to be correct as forward-looking statements are inherently subject to known and unknown risks, uncertainties and other factors which may cause actual future results, performance or achievements to differ materially from the future results, performance or achievements expressed in or implied by such forward-looking statements. Numerous risks, uncertainties and other factors may cause actual results to differ materially from those set out in the forward-looking statements, including general economic conditions and fluctuations in the global automotive market. For any forward-looking statements contained in this or any other document, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, and we assume no obligation to update publicly or revise any such statements in light of new information or future events, except as required by law.