According to the Washington Post, the seat weighs just 11 pounds, which is half the weight of normal rear-facing child seats. It also deflates into a backpack when it is not being used. Inflation and deflation, which is done in 40 seconds, is achieved using an integrated air pump. The seat is also remotely inflatable using a built-in Bluetooth connection.
As the Post reports, the seat is made from drop-stitch fabric. Volvo claims this material was developed by the U.S. military when they were working on making inflatable airplanes. The fabric inflates to such a high pressure that it is durable enough to protect a small child during a car accident. Volvo says the seat can be kept in a rear-facing position for three to four years.
The release date for this product has not yet been announced. See video of the announcement below.