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Autoliv and Neonode to Showcase the Future of Steering Wheel Technology

STOCKHOLM, Sweden, Dec. 18, 2014 (GLOBE NEWSWIRE) -- Autoliv, Inc. (NYSE:ALV) (SSE:ALIV-SDB), the worldwide leader in automotive safety with extensive industry experience in both active and passive safety systems, including steering wheels, and Neonode Inc. (Nasdaq:NEON), the optical touch technology company, today announced that they will jointly showcase the next generation of automotive human machine interface at the Consumer Electronics Show (CES) in Las Vegas.

The joint development done to date has focused on accelerating the development of the next generation of driver interface concepts focusing on the safe and intuitive interaction between the driver and the control of the automobile. The new technology provides a light-based "touchless touch" sensing with visual guidance eliminating the need for the driver to move the hands off the wheel while interacting with the car. It will also replace mechanical switches and allows the car to know where the driver's hands are placed on the wheel.

"We are pleased to collaborate with Neonode to integrate its light-based zForce AIR MultiSensing technology into the steering wheel," commented Johan Lofvenholm, Group Vice President Product and Process Development at Autoliv. "This will create new possibilities as we enhance our capabilities towards automated driving," added Lofvenholm.

"Neonode's strength in innovative user interfaces, based on its proprietary optical technology, creates a joint opportunity to lead the industry towards a more powerful and innovative way to interact with automobile systems. We are delighted to work with Autoliv. Together we can create a safer and more enjoyable interaction in the driving environment," says Thomas Eriksson, CEO at Neonode.

Autoliv and Neonode will introduce the first joint concept "zForce DRIVE - Active Sensor Steering Wheel," which is based on Neonode zForce AIR technology, at CES 2015, January 6 - 9 in Las Vegas.

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 around 80 facilities with close to 60,000 employees in 29 countries. In addition, the Company has ten technical centers in nine countries around the world, with 21 test tracks, more than any other automotive safety supplier. Sales in 2013 amounted to US $8.8 billion. The Company's shares are listed on the New York Stock Exchange (NYSE:ALV) and its Swedish Depository Receipts on the OMX Nordic Exchange in 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 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. The Company undertakes no obligation to update publicly or revise any forward-looking statements in light of new information or future events. 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.

About Neonode

Neonode Inc. (Nasdaq:NEON) develops and licenses the next generation of Multisensing touch technologies, allowing companies to differentiate themselves by making high performing touch and proximity solutions at a competitive cost. Neonode is at the forefront of providing unparalleled user experiences that offer significant advantages for OEM's. This includes state-of-the-art touch and proximity technology features such as low latency pen or brush sensing, remarkably high speed scanning, proximity-, pressure-, and depth sensing capabilities and object-size measuring.

Neonode's patented Multisensing technology is developed to support IOT (Internet of Things) applications for a wide range of devices such as mobile phones, tablets and e-readers, toys and gaming consoles, printers, white goods, wearable goods and advanced automotive infotainment systems. Neonode, the Neonode logo, Multisensing, and zForce are trademarks of Neonode Inc. registered in the United States and other countries. Liquid Sensing, It Makes Sense and AlwaysON are trademarks of Neonode Inc. For more information please visit www.neonode.com

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These include, but are not limited to, statements relating to expectations, future performance or future events, and product cost, performance, and functionality matters. These statements are based on current assumptions, expectations and information available to Neonode management and involve a number of known and unknown risks, uncertainties and other factors that may cause Neonode's actual results, levels of activity, performance or achievements to be materially different from any expressed or implied by these forward-looking statements.

These risks, uncertainties, and factors are discussed under "Risk Factors" and elsewhere in Neonode's public filings with the U.S. Securities and Exchange Commission from time to time, including Neonode's annual report on Form 10-K, quarterly reports on Form 10-Q, and current reports on Form 8-K. You are advised to carefully consider these various risks, uncertainties and other factors. Although Neonode management believes that the forward-looking statements contained in this press release are reasonable, it can give no assurance that its expectations will be fulfilled. Forward-looking statements are made as of today's date, and Neonode undertakes no duty to update or revise them.

Neonode only releases news of new customer agreements and design wins that are considered to be potentially material. Although every reasonable effort is made to present current and accurate information, Neonode makes no guarantees of any kind. Even if the customer or partner always has the intention to actually launch a commercial product or product line in high volume, there is no guarantee that this will be the case. Besides the touch solution, a commercial product involves many other components and systems that affect the customer's development process.

CONTACT: Inquiries: Autoliv - Thomas Jonsson, Vice President Corporate Communications, Tel +46 (8) 58 72 06 27 Neonode - Gunnar Frojdh, Vice President of Global Sales Automotive, Tel +46-70 727 55 55, gunnar.frojdh@neonode.com

Source:Neonode Inc.