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Veoneer awarded major contract from North American OEM

Swedish automotive technology company Veoneer, has been awarded its largest Restraint Control System contract ever.

Veoneer says in a press release that it's Restraint Control Systems (RCS) business has been awarded a significant, long-term contract to deliver its next-generation product to one of North America’s largest OEMs. In 2026, Veoneer will begin delivering the restraint control system to four of the customer's vehicle platforms, including its electric vehicles.

Veoneer’s Restraint Control Systems (RCS) trigger the vehicle’s passive safety systems, such as tightening safety belts and deploying airbags, when a crash cannot be avoided. Veoneer’s Restraint Control System has scalable sensing and actuation capabilities with a platform design that is compatible with future electric vehicle and autonomous vehicle architectures.

Veoneer RCS order intake for 2022 has nearly returned to its record levels from before the automotive industry slowdown tied to the global pandemic. 

“Landing the biggest business award ever is truly an amazing achievement that demonstrates the technical strength and innovation of our next-generation products,” says Robert Bisciotti,  EVP Product Area RCS, in the press release.  “I am very proud as this is an acknowledgment of an excellent customer relationship and the value they place in our team.”

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July 23 2024 1:29 am V22.5.13-2