- Neonode (NASDAQ:NEON) states an agreement with automotive safety system maker Autoliv (mentioned in last week's Q4 report) will result in Autoliv making an initial $1.5M payment to Neonode, along with "an additional $1,500,000 in three staggered payments subject to and after achievement of project milestones during a 12 months period."
- The agreement covers the development of "a new Human Machine Interface sensing product for vehicle steering wheel applications," and the licensing of Neonode's zForce Drive active sensor steering wheel tech.
- Neonode has "agreed not to license its steering wheel technology zForce DRIVE to any other third party in the steering wheel market for a period of 24 months after Autoliv commences production."
- Shares are recovering a large chunk of last week's post-earnings losses.