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Autoliv Restructures to Boost Electronics Business
Auto safety systems leader Autoliv Inc. is dividing its business operations into two groups, passive safety and electronics, on Sept. 1.
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Auto safety systems leader Autoliv Inc. is dividing its business operations into two groups, passive safety and electronics, on Sept. 1.
On the same date Autoliv will launch two new global functional staffs, sales/engineering and product/process development, to support the two units. The heads of all four entities will report to CEO Jan Carlson.
The new passive safety group will be responsible for airbag and seatbelt operations, according to the company. The electronics unit will handle active safety products such as cameras, night-vision systems and radar. By year-end passive safety electronics also will move to the electronics unit.
Autoliv expects worldwide demand for active safety systems in passenger vehicles will grow at an annualized 29% over the next two years, Automotive News Europe notes. ANE says the company currently controls about 37% of the automotive passive safety market, compared with 20% for Takata and 17% for TRW.
Last year Autoliv's overall sales totaled $8.8 billion (€6.6 billion) and were equally proportioned in the Americas, Asia and Europe.
Acquisitions have helped the company quadruple sales of active safety products to $345 million (€258 million) since 2010. The supplier aims to hike such sales to 3.4 billion krona (€373 million) next year.
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