Automotive safety systems supplier

Autoliv

(ALV) - Get Report

said Friday that it was awarded development and supply contracts for a new safety electronics technology where the vehicle stability sensing function is integrated into the airbag control unit.

This world-first electronics architecture will reduce complexity and provide substantial cost savings for these safety systems, the Sweden-based company said.

The company also plans to enter the electronic-stability control market with new vehicle models, starting model year 2009.

"Many vehicle manufacturers are interested in our new cost saving technology, and other suppliers will definitely try to follow us as soon as they can," the company said. "This contract for our new electronic architecture could therefore mark the starting point of a trend where active safety systems such as stability control will be integrated with passive safety systems such as airbags and seatbelts".

This story was created through a joint venture between TheStreet.com and IRIS.