SHANGHAI, May 19, 2023 - Autoliv China, a subsidiary of the worldwide leader in automotive safety systems, Autoliv, Inc. (NYSE: ALV) (SSE: ALIVsdb), and NIO Inc., a leading electric vehicle company based in China, have signed a strategic cooperation framework agreement. The collaboration includes several new safety technologies for electric vehicles with an overarching focus on sustainable solutions.
NIO is a pioneering new premium electric vehicle company with a vision of creating a brighter and more sustainable future by providing smart vehicles, services, and user community. The strategic cooperation between NIO and Autoliv marks a significant milestone in our shared objective to redefine the way people experience transportation.
Under the agreement, NIO and Autoliv will develop safety products for electric vehicles and sustainable technologies. The new technologies will include a passenger airbag that deploys from the headliner using an environmentally friendly inflator. Furthermore, we are co-developing a new airbag concept that provides full protection for different seating positions. This allows for better protection, and more freedom to design the interior of the vehicle. It also includes biology-based materials for both airbag cushions and seatbelt webbing.
"NIO is a pioneer and leading electric vehicle company in the Chinese market. Together, Autoliv and NIO will bring safety and innovation to the market that will reshape the future of mobility," said Mikael Bratt, President and CEO, Autoliv.
"This strategic partnership marks a new milestone for NIO and Autoliv. We have a shared commitment to innovation and sustainability, and we expect the cooperation will be extended to more areas, as we strive to enhance the driving experience and provide pleasant journeys for all global users," said Yu Pan, Vice President of Supply Chain Development at NIO.
"We will work closely with NIO's talented team, pooling with Autoliv's knowledge and strengths. Our cooperation will not only elevate the driving experience but also reinforce our shared objective to create a safer and a more sustainable future for mobility," said Sng Yih, President, Autoliv China.
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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 2022, our products saved close to 35,000 lives and reduced more than 450,000 injuries.
Our close to 70,000 associates in 27 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 2022 amounted to US $ 8.8 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.
