UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): June 30, 2017
Autoliv, Inc.
(Exact name of registrant as specified in its charter)
Delaware | 001-12933 | 51-0378542 | ||
(State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
Klarabergsviadukten 70, Section B, 7th floor
Box 70381,
SE-107 24, Stockholm, Sweden
(Address and Zip Code of principal executive offices)
+46 8 587 20 600
(Registrants telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 8.01 | Other Events. |
On June 30, 2017, Autoliv, Inc. (the Company) announced it will make a $15 million investment in Autotech Ventures, a digital ground transport venture capital fund. A copy of the Companys press release announcing its investment in Autotech Ventures is attached hereto as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
On July 3, 2017, the Company announced that it entered into a commercialization agreement with Velodyne LiDAR, Inc. (Velodyne), the leading supplier of LiDAR technology. Pursuant to the agreement, the Company will develop and market a scalable auto-grade LiDAR sensor using Velodynes core 3D software technology and proprietary LiDAR ASIC engine. A copy of the Companys press release announcing its entry into the agreement with Velodyne is attached hereto as Exhibit 99.2 to this Current Report on Form 8-K and is incorporated herein by reference.
Item 9.01 | Financial Statements and Exhibits. |
(d) EXHIBITS
99.1 | Press Release dated June 30, 2017 | |
99.2 | Press Release dated July 3, 2017 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
AUTOLIV, INC. | ||
By: | /s/ Lars A. Sjöbring | |
Name: | Lars A. Sjöbring | |
Title: | Group Vice President for Legal Affairs, | |
General Counsel and Secretary |
Date: July 3, 2017
EXHIBIT INDEX
Exhibit |
Description | |
99.1 | Press Release dated June 30, 2017 | |
99.2 | Press Release dated July 3, 2017 |
Exhibit 99.1
PRESS RELEASE |
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Autoliv complements its innovation strategy with investment in specialized fund Autotech Ventures
(Stockholm, Sweden, June 30, 2017) Autoliv, Inc. (NYSE: ALV and SSE: ALIVsdb), the worldwide leader in automotive safety systems, today announced that it will make a $15 million investment in Autotech Ventures, the digital ground transport venture capital fund.
Autolivs investment in Autotech Ventures, a fund focused broadly on the automotive industry complements Autolivs own innovation strategy, particularly in the areas of active safety and autonomous driving.
Autolivs Electonics segment has grown rapidly and today represents more than 20% of the companys annual revenues. It was only around fifteen years ago that Autoliv made its first entry in the automotive electronics market. Since then, Autoliv has grown to become a leader in certain segments of the automotive electronics market, particularly with respect to active safety products and technologies for autonomous driving as well as passive safety electronics.
This success has been built through both organic growth and acquisitions. With the pace of innovation accelerating, this type of investment in a specialized fund will be one way to stay at the forefront of emerging trends and opportunities to capitalize on external innovations.
The automotive industry is in a period of unprecedented change. The combination of increased focus on autonomous driving, environmental concerns and shared mobility leads to new opportunities for industry leaders such as Autoliv. The Autotech Ventures fund gives us a way to review a high number of innovative startup companies, particularly in the areas of automation and autonomous driving which are core to our strategy, said Jan Carlson, Chairman, President and CEO of Autoliv.
Autotech Ventures is a specialized digital ground transport venture capital fund, particularly focused on software and services. In addition to the potential financial returns it provides top-level corporate investors such as Autoliv with access to a broad deal flow, co-investment rights for the funds startups and provides independent opinion on startups as well as a high decision making speed.
For more about Autotech Ventures, see autotechvc.com
Inquiries:
Thomas Jönsson, Group Vice President Communications. Tel +46 (0)8 58 72 06 27
About Autoliv
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 80 facilities with 70,000 employees in 27 countries. In addition, the Company has 22 technical centers in ten countries around the world, with 19 test tracks, more than any other automotive safety supplier. Sales in 2016 amounted to about US $10.1 billion. The Companys 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 report 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. All forward-looking statements are based
Autoliv Inc. Box 70381, 107 24 Stockholm, Sweden Visiting address: World Trade Center, Klarabergsviadukten 70, B7, 111 64 Stockholm Phone: +46 (0)8 587 20627 E-mail: thomas.jonsson@autoliv.com |
Autoliv North America Southfield, MI 48034, USA Phone: +1 (248) 794 4537 E-mail: ray.pekar@autoliv.com |
upon our current expectations, various assumptions and 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 such statements in light of new information or future events, except as required by law.
Autoliv Inc. Box 70381, 107 24 Stockholm, Sweden Visiting address: World Trade Center, Klarabergsviadukten 70, B7, 111 64 Stockholm Phone: +46 (0)8 587 20627 E-mail: thomas.jonsson@autoliv.com |
Autoliv North America Southfield, MI 48034, USA Phone: +1 (248) 794 4537 E-mail: ray.pekar@autoliv.com |
Exhibit 99.2
Autoliv Enters LiDAR Commercialization Agreement with Velodyne
(Stockholm, Sweden, July 3, 2017) Autoliv, Inc. (NYSE: ALV and SSE: ALIVsdb), the worldwide leader in automotive safety systems, have signed an agreement with Velodyne LiDAR, Inc., the leading supplier of LiDAR technology, to commercialize LiDAR, a critical sensor for autonomous cars. Velodyne will support Autoliv in the development of an automotive grade LiDAR. The first applications will be in the RoboTaxi segment.
Pursuant to the agreement, Autoliv will develop and market a scalable auto-grade LiDAR sensor using Velodynes core 3D software technology and proprietary LiDAR ASIC engine coupled with Autolivs component development and verification capability. Both companies will contribute key components, technologies, know-how and other intellectual property needed to optimize a next generation of affordable, high performance LiDARs for the automotive market. Autoliv will also serve as the primary commercial and technical interface to customers for awarded business.
LiDAR is an important sensor for cars to drive safely by themselves. Autolivs vast experience in automotive design and testing and high volume manufacturing capability coupled with Velodynes leadership position in LiDAR technology, will fast-track the commercialization of LiDAR for traditional automotive customers and mobility providers, says Johan Löfvenholm, President, Auoliv Electronics. Autolivs commitment to quality, robustness, and user experience will create the trust needed to emerge as a winner in the transforming automotive industry, he continued.
Inquiries:
Thomas Jönsson, Vice President Corporate Communications. Tel: +46 8 587 206 27
About Autoliv
Autoliv, Inc., the worldwide leader in automotive safety systems, develops and manufactures automotive safety systems for all major automotive manufacturers in the world. Together with its joint ventures, Autoliv has more than 80 facilities and 70,000 employees in 27 countries. In addition, the Company has 22 technical centers in ten countries around the world, with 19 test tracks, more than any other automotive safety supplier. Sales in 2016 amounted to about US $10.1 billion. The Companys shares are listed on the New York Stock Exchange (NYSE: ALV) and its Swedish Depository Receipts on the Nasdaq Stockholm (ALIV sdb). For more information about Autoliv, please visit our company website at www.autoliv.com.
Safe Harbor Statement
This report 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. All forward-looking statements, including statements regarding the ability of the parties to successfully collaborate, develop and commercialize LiDAR technologies, are based upon our current expectations, various assumptions and 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. 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 any such statement, except as required by law.
Autoliv Inc. Box 70381, 107 24 Stockholm, Sweden Visiting address: World Trade Center, Klarabergsviadukten 70, B7, 111 64 Stockholm Phone: +46 (0)8 587 20627 E-mail: thomas.jonsson@autoliv.com |
Autoliv North America Southfield, MI 48034, USA Phone: +1 (248) 794 4537 E-mail: ray.pekar@autoliv.com |
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