STOCKHOLM, Sweden, Nov. 21, 2003 (PRIMEZONE) -- Autoliv opened China's first airbag plant less than two years ago. Since that time, Chinese passenger vehicle production has risen to an estimated 1.9 million this year, up from 750,000 vehicles in 2001. Chinese airbag demand has grown at an even faster pace. As a result, Autoliv's first plant will soon reach its capacity limit.
The new complex will be built on an adjacent site in Shanghai to later replace the existing plant. It will not only include facilities for airbag module production but also a test and development center. The new facility will therefore have the capability to provide local restraint system development, to support China's rapidly expanding automotive industry.
Autoliv's new construction will be completed mid next year. The 11,000 square meter facility is designed so that it can be readily doubled in size, when required to meet future business growth. According to market analysts, Chinese passenger vehicle production will continue to grow at this record-breaking pace and reach 5 million already by 2010.
Autoliv Shanghai's customers include Shanghai-GM, Shanghai-VW, Dongfeng Peugeot-Citroen Automobile, Changan-Ford and other Chinese joint ventures of Autoliv's global customers. Several local Chinese companies are also important customers, such as, BYD Automobile Co., Ltd., Changan Automobile and Brilliance Automobile.
Autoliv Shanghai is 60% owned by Autoliv.
Inquiries: Lars Westerberg, President & CEO, Autoliv Inc. Tel +46 (8) 587 20 600 George Chang, President Autoliv China Tel +86 (21) 691 69699
Autoliv Inc. develops and manufactures automotive safety systems for all major automotive manufacturers in the world. Together with its joint ventures Autoliv has 80 facilities with over 35,000 employees in 30 vehicle-producing countries. In addition, the company has technical centers in nine countries around the world, including 20 test tracks, more than any other automotive safety supplier. Sales in 2002 amounted to US $4.4 billion. The Company's shares are listed on the New York Stock Exchange (NYSE:ALV) and its Swedish Depository Receipts on the OM Stockholm Stock Exchange (SSE: ALIV).
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