Benzinga | Nov 15, 2021 10:46AM EST

Autoliv Partners With SSAB For Fossil-Free Steel Automotive Components

* Autoliv Inc (NYSE:ALV) collaborated with steel company SSAB AB to research and develop fossil-free steel components for automotive safety products such as airbags and seatbelts.

* The partnership enables Autoliv to be at the forefront of producing automotive safety products with fossil-free steel from SSAB.

* The partnership is in line with Autoliv's ambition to become carbon neutral in its own operations by 2030 and its target of net-zero emissions across its supply chain by 2040.

* "Gradually switching to fossil-free steel in our products is an important step towards achieving our climate targets," said Autoliv CEO Mikael Bratt.

* Price Action: ALV shares closed higher by 0.29% at $102.31 on Friday.