STOCKHOLM--(BUSINESS WIRE)--Regulatory News:
Autoliv Inc. (NYSE:ALV) (STO:ALIVSDB), the worldwide leader in automotive safety, has won the prestigious 2010 “Quality Excellence Award” from Tata Motor Ltd. in India. The award recognizes accomplishments in 2009 for excellence in product quality and warranty performance.
Tata is the third largest vehicle producer in India, accounting for 20% of the 2.4 million vehicles produced last year in India. Autoliv has been Tata’s partner for automotive safety since 1996 delivering seatbelts, airbags and safety electronics to, currently, fifteen Tata vehicle models (Nano, Indica, Indigo, Marina, Vista, Manza, Safari, Sumo, Aria, Winger, Ace, Magic, Iris, Adventure, Tata Bus).
Autoliv started operations in India in 1991 through a joint venture, which became wholly owned in 2007. Last year, Autoliv’s sales in India rose by 60% to more than U.S. $75 million as Autoliv strengthened its market-leading position in the country. In India, Autoliv produces seatbelts and airbags and is in the process of opening one plant for steering wheels and another plant for seatbelt webbing. All of Autoliv’s operations in India are wholly owned.
Indian vehicle production last year grew by 17% and is this year expected to grow by 25%.
Autoliv Inc., the worldwide leader in automotive safety systems, develops and manufactures automotive safety systems for all major automotive manufacturers in the world. Together with its joint ventures, Autoliv has 80 facilities with approximately 38,000 employees in 29 countries. In addition, the Company has ten technical centers in nine countries around the world, with 21 test tracks, more than any other automotive safety supplier. Sales in 2009 amounted to US $5.1 billion. The Company's shares are listed on the New York Stock Exchange (NYSE:ALV) and its Swedish Depository Receipts on the OMX Nordic Exchange in Stockholm (ALIV sdb). For more information about Autoliv, please visit our company website at www.autoliv.com.
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