- Autoliv Inc ALV subsidiary Autoliv China and Geely Auto Group have entered into a strategic cooperative 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 save more lives.
- The new cooperation intends 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.
- Autoliv and Geely first began working together in 2002. The new collaboration is non-exclusive.
- Price Action: ALV shares are trading lower by 0.12% at $76.69 in premarket on the last check Monday.
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