Veoneer Awarded Major Restraint Control System Business by North American OEM

STOCKHOLM, Dec. 16, 2022 /PRNewswire/ -- The automotive technology company Veoneer has been awarded its largest Restraint Control System contract ever.

Veoneer's Restraint Control Systems (RCS) business has been awarded a significant, long-term contract to deliver its market-leading next-generation product to one of North America's largest OEMs. In 2026, Veoneer will begin delivering the restraint control system to four of the North American OEM's vehicle platforms, including its electric vehicles.

Veoneer's Restraint Control Systems (RCS) trigger the vehicle's passive safety systems, such as tightening safety belts and deploying airbags, when a crash cannot be avoided. Veoneer's Restraint Control System has scalable sensing and actuation capabilities with a platform design that is compatible with future electric vehicle and autonomous vehicle architectures.

Veoneer RCS order intake for 2022 has nearly returned to its record levels from before the automotive industry slowdown tied to the global pandemic. "Landing the biggest business award ever is truly an amazing achievement that demonstrates the technical strength and innovation of our next-generation products," says Robert Bisciotti,  EVP Product Area RCS.  "I am very proud as this is an acknowledgment of an excellent customer relationship and the value they place in our team."

For more information please contact:
Thomas Jönsson, EVP Communications & IR,
thomas.jonsson@veoneer.com
, tel +46 (0)70 9578127

Veoneer HoldCo, LLC. is an automotive technology company, a world leader in active safety and restraint control systems, focused on delivering innovative, best-in-class products and solutions to our customers. Our purpose is to create trust in mobility. Veoneer is a Tier-1 hardware supplier and system integrator with products being part of more than 125 scheduled vehicle launches for 2022.  Headquartered in Stockholm, Sweden, Veoneer has 6,100 employees in 11 countries. The Company is building on a heritage of close to 70 years of automotive safety development. 

The following files are available for download:

https://mb.cision.com/Main/17380/3685553/1741032.pdf

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Source: Veoneer Related Stocks: Bloomberg:VNESDB@SS ISIN:SE0011115963 RICS:VNESDB.ST Stockholm:VNE.SDB
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