Geofencing technology demonstration in Stockholm
(Stockholm, Sweden, May 29, 2018) – Autoliv, Inc. (NYSE: ALV and SSE: ALIVsdb), the worldwide leader in automotive safety system, today announced that Veoneer, its electronics business, today participated in a geofencing urban environment technology demonstration in Stockholm, Sweden.
Geofencing refers to a geographic zone where the entry, speed and fuel use of connected vehicles can be controlled digitally. Trucks, buses and cars were showcasing the geofencing technology, an important step toward creating a connected transport system with digital infrastructure and shared interfaces.
In 2017, the Swedish government initiated a project to create safer, more climate-smart cities using geofencing technology. The participants in the project, led by the Swedish Transport Administration, include the City of Gothenburg, the City of Stockholm, Veoneer, Scania, Volvo Cars and Volvo Group.
Digitization of the cities’ infrastructure and vehicles is creating new opportunities – connected vehicles can make transport more efficient, improve road safety and reduce climate impact. Geofencing can also play a role in ensuring that cities are better equipped to deal with hostile vehicle attacks.
“Geofencing is a tangible step toward smart cities. Our current driver assistance systems complement the driver’s senses, saving lives when reducing the number of traffic accidents. As cars become autonomous, the technology in the vehicles will need to be complemented with geofencing infrastructure. This will make the traffic environment safe,” says Ola Boström, VP Research & Patents, Veoneer.
“Geofencing is a crucial part of Intelligent Transport Systems, giving traffic authorities the power to make our cities safer and greener. The showcase by Veoneer and Ericsson demonstrates secure exchange of data between vehicles and digital traffic infrastructure within a geofenced traffic zone. With 5G, travel will become even safer and more efficient with networks automatically prioritizing mission critical communication between intelligent vehicles and infrastructure”, says Åsa Tamsons, Senior Vice President and Head of Business Area Technology & Emerging Business at Ericsson.
Thomas Jönsson, Group Vice President Communications. Tel +46 (0)8 58 72 06 27
Cathrine Stjärnekull, Director External Communications. Tel: +46 (0)8 58 72 06 81
Veoneer has the ambition to be a leading system supplier for advanced driver assistance systems (ADAS) and autonomous driving as well as a market leader in automotive safety electronics products. Veoneer designs and builds state-of-the-art hardware, software, and electronic systems and its offering includes active safety products such as automotive radars, cameras with driver assist systems, night vision systems and positioning systems, restraint control systems, and brake systems. Veoneer and its joint-ventures has 7,500 employees in 13 countries. Veoneer is currently a subsidiary of Autoliv, Inc. with its stock-listing expected July 2018 on the New York Stock Exchange under the symbol “VNE” and on Nasdaq Stockholm under the symbol “VNE SDB”.
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 72,000 employees in 27 countries. In addition, the Company has 23 technical centers in nine countries around the world, with 19 test tracks, more than any other automotive safety supplier. Sales in 2017 amounted to about US $10.4 billion. The Company'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 release 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, including those related to the completion and timing of the spin-off and distribution, including the satisfaction of the conditions to the distribution and the receipt of all required regulatory approvals, and the expected performance of Autoliv and Veoneer following completion of the spin-off. All forward-looking statements are based upon our current expectations, various assumptions and/or 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 general economic conditions and fluctuations in the global automotive market. 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.