Autoliv Inc (NYSE:ALV) and Nio Inc (NYSE:NIO) have signed a strategic cooperation framework agreement to collaborate on several new safety technologies for electric vehicles. The agreement will focus on sustainable solutions, such as a passenger airbag that emerges from the headliner utilizing an eco-friendly inflator, and a novel airbag concept that ensures comprehensive safety for various seating positions. The initiative also incorporates biologically derived materials for both airbag cushions and seatbelt webbing.
The two companies have a shared commitment to innovation and sustainability, and they expect the cooperation to be extended to more areas. Shares of NIO and ALV are up 1.44% and 0.85% in early trading on Friday. This strategic partnership marks a new milestone for NIO and Autoliv, as they strive to enhance the driving experience and provide pleasant journeys for all global users.