Benzinga | Nov 4, 2021 05:49AM EDT

Autoliv Partners With Piaggio To Develop Motorcycle Airbag

* Autoliv Inc (NYSE: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.