Autoliv & Geely Partner On Safety Technology For Future Vehicles - Autoliv (NYSE:ALV)

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.