Autoliv expands to Vietnam and invests in new airbag cushion plant
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:
Press release_Vietnam OPW |
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https://news.cision.com/autoliv/i/image-of-new-facility,c3168657 |
Image of new facility |
SOURCE Autoliv
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