Autoliv's new factory entering 2nd phase
An agreement on the second phase of Autoliv's factory in Jiading District worth a total of 350 million yuan (US$52.24 million) was signed on August 3.
The expansion of the factory is expected to be completed in 2024. After completion, it will be the flagship factory of Autoliv in China.
Autoliv is a world leading provider of automobile safety systems, and Shanghai Autoliv Automobile Safety Systems Co is the largest airbag manufacturer of the group in China.
The factory in the Jiading Industrial Park aims to be environmentally friendly, automated and digitally connected.
Autoliv plans to expand its investment in the Chinese market and continue to invest in Jiading in particular where the auto industry has great potential thanks to the long term commitment of the local government in the coordinated development of the auto industry with the semiconductor and integrated circuit sectors, said Sng Yih, president of Autoliv China.
Autoliv entered the Chinese market in 1989. At present, it has 14 manufacturing plants, with a headquarters, a technical center and more than 9,000 employees in the country.