STOCKHOLM, April 20, 2023 /PRNewswire/ -- Autoliv,
Inc. (NYSE: ALV) (SSE: ALIVsdb), the worldwide leader in
automotive safety systems, today announced its plan to build a new
state of the art airbag cushion and fabric plant in Vietnam, serving Asia. The investment in the new textile
facility is in response to customer demands and is intended to meet
expanded future airbag production needs for the growing
Asia market.
The new facility will be built in Amata City Ha Long Industrial
Park, located in the northern part of Vietnam. The facility will showcase Autoliv's
manufacturing capabilities utilizing Manufacturing 4.0 concepts by
integrating new technologies into the operations. This is the first
Autoliv investment in Vietnam.
"I am excited to open our first Autoliv facility in Vietnam. We continuously look for ways to
improve our footprint and reduce our costs structurally, and the
new plant will complement our existing footprint in Southeast Asia. With the significant growth in
demand for our restraint system products in Asia, Autoliv Vietnam will play an
increasingly important role in meeting our customer demands," said
Colin Naughton, President Autoliv
Asia.
The site area will be approximately 90,000 sqm, and the new
production facility is expected to begin production of airbag
cushions for our airbag module assembly facilities in Asia by late 2025. When fully operational, the
facility can employ up to 2,000 people.
Inquiries:
Media: Gabriella Ekelund, Tel +46
(70) 612 64 24
Investors & Analysts: Anders
Trapp, Tel +46 (0)8 587 206 71
Investors & Analysts: Henrik
Kaar, Tel +46 (0)8 587 206 14
The following files are available for download:
https://mb.cision.com/Main/751/3754284/1995832.pdf
|
Press release_Vietnam
OPW
|
https://news.cision.com/autoliv/i/image-of-new-facility,c3168657
|
Image of new
facility
|
View original
content:https://www.prnewswire.co.uk/news-releases/autoliv-expands-to-vietnam-and-invests-in-new-airbag-cushion-plant-301802694.html