Autoliv Inc. (NYSE: ALV) disclosed Tuesday that it has decided to commence the construction of a wheel manufacturing facility in Aguascalientes, Mexico. The new facility will be constructed in 30,000 sqm/322,000 sq ft. The facility will have the ability to hire more than 3,000 people. The firm has decided to build the facility to meet the increasing demands of the customers.
The firm’s other plants in Matamoros, Mexico, and this new plant in Aguascalientes will allow ALV to offer world-class services to clients. The new plant will grow its capacity, but it will also enable the firm to enhance its production processes at both facilities and it will produce thrilling chances for its team members in Mexico.
Furthermore, the new initiative will also speed up the digitalization and automation strategy of the firm and will include financing in modern manufacturing processes. The building of the new facility is scheduled to commence in June of this year and Autoliv anticipates the new plant to be in working condition by January 2022.
After the execution of the new facility, competencies will include framework casting, plastic, and polyurethane injection molding, leather preparation and wrapping, final assembly, testing, and development. Autoliv is the prominent producer of steering wheels for passenger vehicles. The firm has 16 manufacturing and assembly sites and four technical centers all around the globe that manufacture more than 20 million steering wheels yearly.