Veoneer Awarded North American OEM Major Constraint Control Systems Business

stockholm, December 16, 2022 /PRNewswire/ — Automotive technology company Veoneer has been awarded the largest restraint control system contract ever.

Veoneer’s Constraint Control Systems (RCS) business has been awarded a major long-term contract to deliver its market-leading next-generation product to one of the North American largest original equipment manufacturer. In 2026, Veoneer will begin supplying restraint control systems to the North American OEM’s four vehicle platforms, including its electric vehicles.

When a collision cannot be avoided, the Veoneer’s Restraint Control System (RCS) triggers the vehicle’s passive safety systems, such as tightening seat belts and deploying airbags. Veoneer’s restraint control system features scalable sensing and actuation capabilities, and its platform design is compatible with future electric and autonomous vehicle architectures.

Veoneer RCS order intake for 2022 is almost back to record levels before the auto industry slowed down due to the global pandemic. “Winning the largest commercial award ever awarded is truly a remarkable achievement and showcases the technical prowess and innovation of our next-generation products,” said Robert Bisciotti, Executive Vice President, Product Areas, RCS. “I’m very proud because it’s a recognition of the great client relationships and how much they value our team.”

For more information, please contact:
Thomas Jönsson, Executive Vice President Communications and Investor Relations,
[email protected]
Telephone +46 (0)70 9578127

Veoneer Holdings Limited. is an automotive technology company and a global leader in active safety and restraint control systems, focused on delivering best-in-class innovative products and solutions to our customers. Our purpose is to build trust in mobility. Veoneer is a Tier 1 hardware supplier and system integrator whose products are part of more than 125 scheduled vehicle launches in 2022.Headquartered in Stockholm, Sweden, Veoneer has 6,100 employees in 11 countries. The company builds on a nearly 70-year tradition of automotive safety development.

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SOURCE Veeninger

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