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Autoliv Inc to set up manufacturing plant in Tamil Nadu

Wednesday, 13 Jan 2021
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Autoliv Inc, an automotive safety supplier company headquartered in Sweden, is setting up its manufacturing plant in Tamil Nadu at an investment of Rs 100 crore. 
The company has bought land for the plant at Cheyyar in Tiruvannamalai district to make air-bags. The project is expected to create jobs for over 400 people. 
The company develops, manufactures and markets air-bags, seat belts and steering wheels. 
Statistically, more than three air-bags or seat belts from Autoliv have been delivered to every vehicle produced globally during the past 10 years. 
The automotive safety manufacturer was initially planning to set up this plant in Vietnam, but decided to go for Cheyyar after several rounds of discussions with officials of the state government.
The company found the ecosystem in the state conducive to manufacturing and saw it as a viable alternative to countries such as Vietnam, Thailand and the Philippines. 
The state government signed several memoranda of understanding for investments worth over USD two billion in the automotive industry alone in 2020. 
In 2020, Daimler India Commercial Vehicles expressed it will expand its portfolio with an investment of Rs 2,277 crore and generate jobs for 400 people, while Dinex, Netherlands-based company proposed a project to manufacture auto components at Mahindra World City, at a investment of Rs 100 crore. 
BYD India committed itself to establishing a project for manufacture of electric vehicles in the SIPCOT Industrial Park at Sriperumpudur. 
Apart from this, the state government inked a deal with Ola Electric Mobility for setting up an electric two-wheeler manufacturing unit at Hosur at an investment of Rs 2,354 crore in December 2020.
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