Autoliv, Inc., a global manufacturer of automotive safety systems, is set to commence operations at its newly built airbag cushion manufacturing plant in Quang Ninh province, Vietnam. The announcement was made by a company representative during a meeting with Quang Ninh’s Party Secretary. This marks the culmination of a two-year construction process, reinforcing Vietnam’s growing role in the global automotive supply chain.
The plant is strategically located within the Amata City Ha Long (Song Khoai) Industrial Park in Quang Yen town and represents a substantial investment of USD 154 million. Once fully operational, it will specialize in the production of airbag cushions and other automotive safety products, with an estimated annual output of 10 million units. Most of these products will be designated for export, catering to the increasing demand for advanced safety features in automobiles worldwide.
The Embassy of Sweden in Hanoi highlighted that the 90,000-square-meter plant will not only meet the rising demand for airbag cushions in Asia but also generate significant employment opportunities in Quang Ninh, with up to 2,000 jobs expected to be created. This investment further strengthens Vietnam’s status as a significant hub for global manufacturing.
The construction of the facility officially commenced in July 2023, with Investcorp serving as the primary contractor responsible for both design and construction. With its state-of-the-art production capabilities and strategic location, the plant is expected to play a key role in Autoliv’s expansion in the region, contributing to Vietnam’s position in the global automotive manufacturing landscape.
(Source: The Investor)
