A press conference will be held September 6th at 15.00 CEST (see
invitation on the next page).
Regulatory News:
Autoliv, Inc. (NYSE: ALV and SSE: ALIVsdb), the worldwide leader
in automotive safety systems and Volvo Cars, the global premium car
maker, have signed a letter of intent to form a new jointly-owned
company to develop next generation autonomous driving software.
The planned new company will have its headquarters in
Gothenburg, Sweden, and an initial workforce taken from both
companies of around 200, increasing to over 600 in the medium term.
The company is expected to start operations in early 2017.
Once finalized, the joint venture will be a new entrant in the
growing global market for autonomous driving software systems. It
will mark the first time a leading premium car maker has joined
forces with a tier one supplier to develop new advanced driver
assist systems (ADAS) and autonomous driving (“AD”)
technologies.
The new company, which has yet to be named, will develop ADAS
and AD systems for use in Volvo Cars and for sale exclusively by
Autoliv to all car makers globally, with revenues shared by both
companies.
The joint venture will bring together two global leaders in
automotive safety, underlining the contribution ADAS and AD can
make to road safety and accelerating the development and
introduction of fully autonomous cars.
Autoliv is the world’s leading supplier of safety systems to car
makers worldwide and has led the way in the development and
introduction of active and passive safety technologies to the
world’s car makers for more than 60 years.
Volvo Cars has an established reputation for making some of the
world’s safest cars, having invented the three point safety belt
and consistently developed and introduced world leading active and
passive safety systems. It has a medium term vision that no one
will be killed or seriously injured in a new Volvo by 2020.
Jan Carlson, Chairman, Chief Executive Officer & President
of Autoliv, said: “There are no two companies that can claim to
have done more for automotive safety worldwide than Autoliv and
Volvo. This new company is a recognition of the fact that
autonomous driving is the next step to transform road safety.”
Håkan Samuelsson, President & Chief Executive Officer of
Volvo Car Group, said: “By combining our know-how and resources we
will create a world leader in AD software development. This means
we can introduce this exciting technology to our customers
faster.”
Both Autoliv and Volvo Cars will provide intellectual property
for their ADAS systems to the joint venture. From this base the
company will develop new ADAS technologies and AD systems. The new
company is expected to have its first ADAS products available for
sale by 2019 with AD technologies available by 2021.
Autoliv will be the exclusive supplier and distribution channel
for all the new company’s products towards third parties, except
Volvo Cars which will source directly from the new company. Its
management will be comprised of representatives from Autoliv and
Volvo Cars. Dennis Nobelius, Managing Director of Volvo Switzerland
and formerly Vice President Vehicle line 90 at Volvo, will be the
Chief Executive Officer of the new joint venture.
The non-binding letter of intent is subject to further
negotiations and the parties reaching a final definitive agreement,
and there is no guarantee that any definitive agreement will be
reached or that the forming of the joint venture contemplated by
the non-binding letter of intent will occur.
Photos are available at http://news.cision.com/se/autoliv
This information is information that Autoliv, Inc. is obliged to
make public pursuant to the EU Market Abuse Regulation. The
information was submitted for publication, through the contact
person set out above, at 11:00 CEST on September 6, 2016.
Autoliv and Volvo Cars invite you to a press conference
Jan Carlson, Chairman, President and Chief Executive Officer,
Autoliv, and Håkan Samuelsson, President and Chief Executive
Officer, Volvo Car Group, will host a joint press conference.
Please note that no interviews will be made prior to the press
conference.
Time
Tuesday, September 6th at 15.00 CEST (i.e. 14:00 UK Time, 09:00
am ET)
Location
Conference & Events 7A Centralen
Address: Vasagatan 7A, 3rd floor, Stockholm
Attend the Press conference:
Register
here
Attend the Webcast:
Follow the link on www.autoliv.com
Attend by phone: To participate in the Q&A session, please dial
in 5-10 minutes prior to the start time: National free phone -
United Kingdom: 0800 279 5004 National free phone - United States
of America: 1-877-280-2296 National free phone - Sweden: 0200 883
440 International Call:
+44(0)20 3427 1917
Confirmation Code:
9309771 Audio replay:
An audio replay will be available after
the conference on www.autoliv.com until September 12, 2016.
Transcript:
A transcript of the press conference will
be available on www.autoliv.com under the Investors section,
Presentations & Transcripts.
Slides:
Slides related to this press conference
will be posted to Autoliv’s website at www.autoliv.com under the
Investors section, Presentations & Transcripts.
Welcome!
About Autoliv
Autoliv, Inc. (NYSE:ALV)(STO:ALIVSDB) is the worldwide leader in
automotive safety systems, and through its subsidiaries develops
and manufactures automotive safety systems for all major automotive
manufacturers in the world. Together with its joint ventures,
Autoliv has more than 80 facilities with around 66,000 employees in
27 countries. In addition, Autoliv has 22 technical centers in nine
countries around the world, with 20 test tracks, more than any
other automotive safety supplier. Sales in 2015 amounted to about
US $9.2 billion. Autoliv’s shares are listed on the New York Stock
Exchange (NYSE: ALV) and its Swedish Depository Receipts on Nasdaq
Stockholm (ALIV sdb). For more information about Autoliv, please
visit our company website at 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, without limitation, the
uncertainty as to whether a binding or definitive agreement will be
reached between the parties regarding the proposed joint venture;
the impact of any changes to the terms of the proposed joint
venture agreed to during the negotiation of a definitive agreement;
the uncertainty as to whether any binding or definitive agreement
regarding the proposed joint venture will ultimately be
consummated; the impact of any regulatory reviews of the proposed
joint venture; uncertainties as to the future operating, financial
and other developments with respect to the joint venture; our
ability to manage and obtain the benefits of the activities of the
proposed joint venture; and the impact of any changes in general
economic and market conditions. 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 forward-looking
statements in light of new information or future events, except as
required by law..
This information was brought to you by Cision
http://news.cision.com
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version on businesswire.com: http://www.businesswire.com/news/home/20160906005621/en/
Autoliv GroupThomas J�nsson, Vice President CommunicationsTel
+46 (0)8 58 72 06 27
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