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TheStreet Open House

Autoliv Becomes “Strategic Supplier” To Great Wall

Stocks in this article: ALV

Regulatory News:

Autoliv, Inc. (NYSE: ALV, and SSE: ALIV sdb) – the global leader in automotive safety – today announced that it has signed a Strategic Cooperation agreement with Great Wall Motor Co., Ltd., in the area of automotive safety systems.

In July Autoliv signed a Strategic Cooperation Agreement in the area of automotive safety with Great Wall Motor Co., Ltd, China’s leading SUV and pickup manufacturer. According to the Agreement, Great Wall Motor and Autoliv will enhance technical cooperation in the area of active and integrated safety on top of the on-going cooperation in passive safety.

Autoliv cooperation with Great Wall Motor started in 2003 when Autoliv developed and supplied seat belt for the Haval SUV. Since then, the business relationship has grown steadily with Autoliv develops and supply safety products and system for a host of Great Wall Motor models such as Florid, Coolbear and Voleex C30. Florid and Coolbear equipped with Autoliv safety products passed the EC Whole Vehicle Type Approval in 2009, while the Voleex C30 with Autoliv developed passive safety system achieved a 5-Star rating in the recent China crash rating program C-NCAP (China New Car Assessment Program).

“Great Wall Motors adopts a two prong growth strategy by focusing on the domestic and international market. However the requirements on entering developed European and North American markets are becoming ever more stringent in the areas of vehicle safety and emission. The purpose of signing this Strategic Cooperation Agreement with Autoliv is to enhance the technical cooperation on active and passive safety,” said Chairman of Great Wall Motors Wei Jianjun.

“Autoliv is proud to be the supplier partner to Great Wall Motor for many of the current production models as well as new models under development. This Strategic Cooperation Agreement will elevate our existing collaborative relationship to a higher level and Autoliv is excited on the opportunity to work with Great Wall Motor on new and leading edge of actively safety,” said George Chang, President of Autoliv China.

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