Autoliv and Volvo Cars to create joint venture for autonomous driving

A press conference will be held September 6th at 15.00 CEST (see invitation on
the next page).
(Stockholm, Sweden, 2016-09-06) – – – 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
Inquiries:
Thomas Jönsson, Autoliv Group Vice President Communications
     Tel +46 (0)8 58 72 06 27
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       Register
conference:            here (https://www.lyyti.fi/reg/Autoliv_VolvoCars)
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 -  0800 279 5004
United Kingdom:
National free phone -  1-877-280-2296
United States of
America:
National free phone -  0200 883 440
Sweden:
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. 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..