Autoliv, the world’s leading automotive safety systems manufacturer headquartered in Stockholm, Sweden, continues to strengthen its global presence with a major investment in Vietnam. The move underscores the increasing trend of Nordic companies shifting production to Southeast Asia, particularly Vietnam — now seen as a strategic and sustainable manufacturing hub.
About Autoliv, Sweden
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Autoliv is a global leader in automotive safety technologies, specializing in airbags, seatbelts, pedestrian protection systems, and advanced safety innovations. With more than 70,000 employees across 27 countries, the company’s mission is to develop life-saving technologies that reduce traffic accidents and save millions of lives each year.
In 2023, Autoliv recorded revenues of approximately USD 10.5 billion, maintaining its position as the top supplier in the automotive safety industry.
Autoliv’s Strategic Expansion in Vietnam
Autoliv’s new airbag manufacturing plant in the Song Khoai Industrial Park, Quang Ninh Province, is expected to start operations in November 2025, marking a key milestone in both Autoliv’s global strategy and Nordic investment growth in Vietnam.
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Investment capital: USD 154 million
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Project owner: Autoliv Vietnam Co., Ltd.
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Production capacity: Approximately 10 million safety products per year, primarily for export
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Land area: 9 hectares (located in Amata City Ha Long Industrial Park)
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Main contractor: INVESTCORP Design and Construction
The construction phase is being accelerated, with equipment installation and workforce training underway. All facilities are scheduled for completion by February 2025.
During a site visit on February 3, 2025, H.E. Johan Ndisi, Swedish Ambassador to Vietnam, praised the project as a significant milestone for Sweden–Vietnam economic relations. He noted that the plant would create around 2,000 local jobs in Quang Ninh and further integrate Vietnam into the global automotive supply chain.
Autoliv Vietnam has already begun recruitment campaigns for production and warehouse positions, with hiring initiated in early 2025.
Nordic Investment Shift Toward Vietnam
Vietnam is increasingly becoming a preferred destination for Nordic investors — particularly from Sweden, Denmark, Finland, and Norway — due to its strategic location, competitive labor costs, and improving investment environment.
Key Factors Driving the Shift:
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EVFTA Advantages
The EU–Vietnam Free Trade Agreement (EVFTA) has significantly reduced tariffs, allowing Nordic manufacturers to benefit from lower costs when exporting from Vietnam to Europe. -
“China +1” Strategy
Many Nordic companies are diversifying their supply chains to reduce overdependence on China, viewing Vietnam as a reliable production alternative. -
Investment-Friendly Policies
The Vietnamese government is actively improving its investment climate by offering tax incentives, administrative support, and industrial infrastructure development. -
Sustainability Alignment
Sustainability is a core value of Nordic businesses. Vietnam’s commitment to carbon reduction, renewable energy, and ESG standards aligns with these goals, strengthening its appeal to responsible investors.
Other Prominent Nordic Investments in Vietnam
Several major Nordic corporations have already established or expanded operations in Vietnam, including:
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LEGO – building a large-scale carbon-neutral factory in Binh Duong.
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Orsted – investing in offshore wind energy projects.
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Vestas – providing wind turbine technology.
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Tetra Pak – expanding packaging manufacturing capacity.
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Jotun – enhancing its paint production facilities.
These examples illustrate the broader trend of green, high-tech, and value-added investments coming from Northern Europe.
Conclusion
Autoliv’s investment in Vietnam not only strengthens bilateral economic relations between Vietnam and Sweden but also symbolizes a wider Nordic movement toward sustainable and diversified manufacturing in Asia. With continued government support and a robust industrial ecosystem, Vietnam is poised to attract even more Nordic capital in sectors such as automotive manufacturing, renewable energy, and advanced technology.