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Autoliv

From Wikipedia, the free encyclopedia
Autoliv, Inc.
Company typePublic company
ISIN
IndustryAutomotive safety
Founded1953; 72 years ago (1953)
HeadquartersKlarabergsviadukten 70, Stockholm, Sweden
Area served
Worldwide
Key people
Jan Carlson (Chairman), Mikael Bratt (President and CEO)
ProductsSeatbelts, Airbags, Steering Wheels, Pedestrian Protection Systems, Mobility Safety Solutions
RevenueDecrease US$7.45 billion (2020)[1]
Decrease US$382 million (2020)[2]
Decrease US$187 million (2020)[3]
Number of employees
68,000 (worldwide)
Websitewww.autoliv.com


Autoliv is a Swedish[4][5] automotive safety supplier headquartered in Stockholm, Sweden,[6][7] and incorporated in Delaware, United States as Autoliv, Inc.[8][9] It is the world’s largest automotive safety system supplier,[6] producing systems such as airbags, seatbelts, and steering wheels for automotive manufacturers.[10] Autoliv's name combines auto for automobiles, and "liv" {‘li:v} the Swedish word for "life".[11][12]

Together with its joint ventures, Autoliv has over 68,000 employees in 27 countries,[13] of whom 5,700 are involved in research, development and engineering. In addition, the company has 14 technical centers around the world, including 20 test tracks.[14][15]

The group is among the largest Tier 1 automotive suppliers in the world, with annual revenues exceeding US$8 billion,[16] and is part of the Fortune 500, ranking #289 in 2018.[17] The company's shares are listed on the New York Stock Exchange and its Swedish Depository Receipts on the Nasdaq Stockholm.[18][19]

History

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Autoliv was founded in Vårgårda, Sweden in the form of Auto Service AB in 1953 by Lennart Lindblad.[20] In 1956, the company became a pioneer in seat belt technology when it began production of two-point seat belts. The name of the company was changed to Autoliv AB in 1968. It was bought in 1974 by Granges Weda AB, inventors of the retractable seat belt. Granges Weda was acquired in turn in 1989 by Electrolux and changed its name to Electrolux Autoliv AB. During the 1980s and 1990s, the company grew through acquisitions, mainly in Europe. Between 1994 and 1997 the company was listed on the Stockholm Stock Exchange under the name of Autoliv AB and in 1997 it merged with the American firm Morton ASP Inc to form Autoliv Inc.[21] In June 2018, the company spun off its Electronics business into a separate company Veoneer Inc.[22][23]

In March 2019 Autoliv was fined €121 million by the European Commission for participating in two cartels that violated EU antitrust rules.[24] The company, along with TRW and Takata, coordinated the supply of seatbelts, airbags, and steering wheels to Volkswagen Group and BMW Group from 2007 to 2011.[25] Autoliv received a 30% reduction in its fine under the Leniency Notice and an additional 10% reduction for acknowledging its involvement. This case was part of a broader investigation into anti-competitive practices in the automotive parts sector, which resulted in total fines of €2.15 billion.[26]

In November 2019, Autoliv selected Fredrik Westin as Chief Financial Officer and Executive Vice President, succeeding Interim CFO Christian Hanke.[27]

Products

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Label from a Renault seatbelt pretensioner unit manufactured by Autoliv

The company develops, manufactures and markets safety systems (estimated market share of approximately 42% in 2020) such as airbags, seatbelts, steering wheels, and passive safety electronics.[7] It also produces pedestrian protection systems.

See also

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References

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  1. ^ "Investors". 18 October 2024.
  2. ^ "Investors". 18 October 2024.
  3. ^ "Investors". 18 October 2024.
  4. ^ "Activist Cevian sees big potential in Autoliv after investment | Reut…". archive.is. 2024-12-31. Retrieved 2024-12-31.
  5. ^ "Autoliv to pay $22 million to settle investor suit over price-fixing …". archive.is. 2024-12-31. Retrieved 2024-12-31.
  6. ^ a b Banker, Steve. "Autoliv's Supply Chain Risk Management Journey". Forbes. Retrieved 2024-12-31.
  7. ^ a b Legrand, Grégoire (23 November 2023). "Autoliv, Inc. : Fasten your seatbelt". MarketScreener.
  8. ^ "Autoliv | 2021 Fortune 500".
  9. ^ "Driven for life" (PDF). AnnualReports.com.
  10. ^ "Antitrust: Commission fines car safety equipment suppliers € 368 million in cartel settlement". European Commission - European Commission. Retrieved 2024-12-31.
  11. ^ Webmaster (2016-12-20). "Autoliv Research to launch learning intelligent vehicle". Automotive World. Retrieved 2025-01-01.
  12. ^ "liv", Wiktionary, the free dictionary, 2024-11-22, retrieved 2025-01-01
  13. ^ "Autoliv Research to Launch Learning Intelligent Vehicle". PR Newswire. 20 December 2016.
  14. ^ "Autoliv Announces Dividend Increase, Share Repurchase Program Extension, Treasury Shares Retirement, and 2025 Capital Markets Day". The Financial Times. 12 November 2024.
  15. ^ "Autoliv accelerates its global structural cost reductions; aims to close sites in Elmshorn, Germany and Congleton, United Kingdom". PR Newswire. 13 July 2023.
  16. ^ Banker, Steve (7 October 2022). "Autoliv's Supply Chain Risk Management Journey". Forbes.
  17. ^ "Autoliv". Fortune. Archived from the original on 2019-05-05. Retrieved 2018-11-27.
  18. ^ "Autoliv, Inc. Common Stock (ALV)". NASDAQ.com. Retrieved 2017-10-31.
  19. ^ "ALIV SDB, Autoliv SDB, (SE0000382335)". Nasdaq. 2019-03-28. Archived from the original on 2024-01-14. Retrieved 2024-01-14.
  20. ^ "About Autoliv Inc". U.S. News.
  21. ^ "Merger to Create Biggest Maker of Air Bags". The New York Times. 1 October 1996.
  22. ^ "Veoneer spin-off". Archived from the original on 2021-12-23. Retrieved 2019-02-20.
  23. ^ "Autoliv, Inc. completed the spin-off of Veoneer, Inc. (NYSE:VNE.WI)". MarketScreener. 28 June 2018.
  24. ^ "Antitrust: Commission fines car safety equipment suppliers € 368 million in cartel settlement". European Commission - European Commission. Retrieved 2024-12-31.
  25. ^ Jaeger2019-03-05T11:30:00, Jaclyn. "Autoliv, TRW fined €368M for breaching EU antitrust rules". Compliance Week. Retrieved 2024-12-31.{{cite web}}: CS1 maint: numeric names: authors list (link)
  26. ^ "Auto part makers' €368 million EU fine – DW – 03/05/2019". dw.com. Retrieved 2024-12-31.
  27. ^ "Autoliv announces appointment of new CFO | Automotive World". www.automotiveworld.com. 26 November 2019. Retrieved 2020-04-17.
[edit]
  • Official website
  • Business data for Autoliv:
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