(Bangalore, India, February 16, 2021) - Autoliv, Inc. (NYSE: ALV and SSE: ALIVsdb), the worldwide leader in automotive safety systems, announced its plan to build a new inflator manufacturing plant in India, focused toward supporting its strong Indian market position. This is the latest development in Autoliv's long commitment to the Indian market through its world class life-saving solutions for mobility and society.
Autoliv India has its corporate office, Engineering Centre, and Airbag facilities in Bangalore. The new inflator plant will be built close to Chennai and will serve Indian demand. The localization of inflator production will meet customer requirements while mitigating global supply chain disruptions and fluctuations. The new inflator plant will further encourage sustainable market growth in India from global and local OEMs.
Autoliv entered the Indian market in 1994 and has since become the clear leader, with six facilities, in this dynamic market.
"The establishment of the new inflator plant is another milestone of Autoliv's development in India, demonstrating our strong commitment to customers and to the Indian market," said Mr. Joydeep Roy, Autoliv India President and Managing Director. "We are optimistic about the business prospect here. We will continue our dedicated work of leading the way to Saving More Lives in India and being a trusted supplier and partner to our customers," he added.
Gabriella Ekelund, Tel +46 (70) 612 64 24
Catherine Fu, Communications Director, Tel +86-21-69925406
Autoliv, Inc. is the worldwide leader in vehicle safety systems, and through our subsidiaries we develop, manufacture and market protective systems, such as airbags, seatbelts, steering wheels and pedestrian protection systems for all major automotive manufacturers in the world. In 2020, our products save over 33,000 lives each year and prevented ten times as many severe injuries.
Our more than 68,000 associates in 27 countries are passionate about our vision of Saving More Lives and quality is at the heart of everything we do. We have 14 technical centers, with 20 test tracks. Sales in 2020 amounted to US $ 7,447 million. The shares are listed on the New York Stock Exchange (NYSE: ALV) and the Swedish Depository Receipts on Nasdaq Stockholm (ALIV sdb). For more information go to www.autoliv.com.
Safe Harbor Statement
This report contains statements that are not historical facts but rather forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include those that address activities, events or developments that Autoliv, Inc. or its management believes or anticipates may occur in the future. All forward-looking statements are based upon our current expectations, various assumptions and data available from third parties. Our expectations and assumptions are expressed in good faith and we believe there is a reasonable basis for them. However, there can be no assurance that such forward-looking statements will materialize or prove to be correct as forward-looking statements are inherently subject to known and unknown risks, uncertainties and other factors which may cause actual future results, performance or achievements to differ materially from the future results, performance or achievements expressed in or implied by such forward-looking statements. Numerous risks, uncertainties and other factors may cause actual results to differ materially from those set out in the forward-looking statements, including general economic conditions and fluctuations in the global automotive market. For any forward-looking statements contained in this or any other document, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, and we assume no obligation to update publicly or revise any such statements in light of new information or future events, except as required by law.