Sweden’s Autoliv to Set Up 100-Cr Manufacturing Plant in T.N

A fortune 500 company headquartered in Sweden, Autoliv Inc. will be setting up its manufacturing plant in India. The manufacturing plant will come up in Tamil Nadu at an investment of Rs 100 crore.

Key Points

  • Autoliv Inc. has bought land for its manufacturing plant at Cheyyar in Tiruvannamalai District of Tamil Nadu.
  • The manufacturing plant will make air-bags. This manufacturing project of Autoliv Inc. will be creating jobs for more than 400 people.
  • Autoliv Inc. is a company that manufactures seat belts, air-bags, and steering wheels.
  • As per reports, more than 3 air-bags or seat belts by Autoliv have been delivered to every vehicle produced worldwide in the last 10 years.
  • In the starting, Autoliv Inc. was planning to set up its manufacturing plant in Vietnam but chose Tamil Nadu.

Previous Agreements

In 2020, the Tamil Nadu government signed several agreements for investments of more than $2 billion in the automotive industry.

Last year, Daimler India Commercial Vehicles also said it will make an investment of Rs 2,277 crore in the state.

Netherlands-based Dinex also proposed an auto-components manufacturing project at Mahindra World City with an investment of Rs 100 crore in investment.

Current Affairs