Nio and Autoliv to collaborate on safety technology for future EVs By Investing.com

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Nio and Autoliv to collaborate on safety technology for future EVs

Published May 19, 2023 10:04AM ET

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Nio and Autoliv to collaborate on safety technology for future EVs

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Autoliv Inc (NYSE:ALV) and Nio Inc (NYSE:NIO) announced Friday that they have signed a strategic cooperation framework agreement to collaborate on several new safety technologies for electric vehicles with an overarching focus on sustainable solutions.

Autoliv wrote in a press release that “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 collaborate on the development of safety products catering to electric vehicles and sustainable technologies. Among the innovative solutions being pursued, they will introduce a passenger airbag that emerges from the headliner utilizing an eco-friendly inflator. Additionally, they are jointly creating a novel airbag concept that ensures comprehensive safety for various seating positions, allowing enhanced protection while granting greater flexibility in vehicle interior design. Additionally, the initiative incorporates biologically derived 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.

Shares of NIO and ALV are up 1.44% and 0.85% in early trading on Friday.

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