STOCKHOLM and SHANGHAI, Oct. 24, 2022 /PRNewswire/ -- Autoliv China, a subsidiary of the worldwide leader in automotive safety systems, Autoliv, Inc. (NYSE: ALV) (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.
Media: Gabriella Ekelund, Tel +46 (70) 612 64 24
Investors & Analysts: Anders Trapp, Tel +46 (0)8 587 206 71
Investors & Analysts: Henrik Kaar, Tel +46 (0)8 587 206 14
The following files are available for download:
Press release 221024
pic of geely cooperation 3
Source: Autoliv Related Stocks: Bloomberg:ALV@US NYSE:ALV RICS:ALIVSDB.ST RICS:ALV.A Stockholm:ALIV-SDB.ST Stockholm:ALIVSDB