- Autoliv Inc ALV has announced a partnership with Piaggio Group to develop an airbag for powered two-wheelers for rider safety. The financial terms of the deal were not disclosed.
- The airbags will be mounted on the vehicle frame and will deploy in milliseconds.
- "The development of these products is an integral part of our sustainability agenda and an important step towards our goal of saving 100,000 lives a year by 2030", said CEO Mikael Bratt.
- Autoliv will now work with Piaggio to develop the product further and potentially commercialize the concept.
- Price Action: ALV shares closed higher by 3.7% at $101.57 on Wednesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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