Autoliv Expanding Steering Wheel Manufacturing

AUBURN HILLS,Michigan,May 18,2021 -- Autoliv,Inc. (NYSE: ALV)(SSE: ALIVsdb),the worldwide leader in automotive safety systems,today announced plans to construct a new steering wheel manufacturing plant in Aguascalientes,Mexico. When fully operational the 30,000 sqm/322,000 sq ft facility will have the potential to employ up to 3,000 people.

"We are doing this expansion to meet growing customer demand," said Kevin Fox,President,Autoliv Americas. "This new facility,along with our Matamoros,Mexico facility will allow us to continue to provide world-class support to our customers. This investment will increase capacity,but it will also allow us to optimize our manufacturing processes at both facilities and it will create exciting opportunities for our team members in Mexico."

Kevin Fox added that the project accelerates the company's digitalization and automation strategy and will include investment in state-of-the art manufacturing processes.

Construction of the new facility is planned to begin in June of this year and Autoliv expects the new plant to be operational by January 2022. Once completed,capabilities will include armature casting,plastic and polyurethane injection molding,leather preparation and wrapping,final assembly,testing,and development.

Steering wheels are an integral part of vehicle safety restraint systems and play an important role in allowing the driver to operate a vehicle safely. The wheel itself is designed to absorb energy in a crash and the center unit is where the driver airbag is mounted. Over time,many vehicle controls and driver warning systems have been mounted on the steering wheel to provide greater comfort and control over the vehicle.

Autoliv is the world's leading producer of steering wheels for passenger vehicles. We have 16 manufacturing and assembly sites and four technical centers around the world that produce more than 20 million steering wheels annually.

Inquiries:

Media: Jim Parks,Tel +1 248 370 5677

Media: Gabriella Ekelund,Tel +46 (70) 612 64 24

Investors & Analysts: Anders Trapp,Tel +46 (0)8 587 206 71

Investors & Analysts: Henrik Kaar,Tel +46 (0)8 587 206 14

About Autoliv

Autoliv,Inc. is the worldwide leader in vehicle safety systems,and through our subsidiaries we develop,manufacture and market protective systems,such as airbags,seatbelts,steering wheels and pedestrian protection systems for all major automotive manufacturers in the world. In 2020,our products save over 33,000 lives and prevented ten times as many severe injuries.

Our more than 68,000 associates in 27 countries are passionate about our vision of Saving More Lives and quality is at the heart of everything we do. We have 14 technical centers,with 20 test tracks. Sales in 2020 amounted to US $ 7,447 million. The shares are listed on the New York Stock Exchange (NYSE: ALV) and the Swedish Depository Receipts on Nasdaq Stockholm (ALIV sdb). For more information go towww.autoliv.com.

Safe Harbor Statement

This report contains statements that are not historical facts but rather forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include those that address activities,events or developments that Autoliv,Inc. or its management believes or anticipates may occur in the future. All forward-looking statements are based upon our current expectations,various assumptions and data available from third parties. Our expectations and assumptions are expressed in good faith and we believe there is a reasonable basis for them. However,there can be no assurance that such forward-looking statements will materialize or prove to be correct as forward-looking statements are inherently subject to known and unknown risks,uncertainties and other factors which may cause actual future results,performance or achievements to differ materially from the future results,performance or achievements expressed in or implied by such forward-looking statements. Numerous risks,uncertainties and other factors may cause actual results to differ materially from those set out in the forward-looking statements,including general economic conditions and fluctuations in the global automotive market. For any forward-looking statements contained in this or any other document,we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995,and we assume no obligation to update publicly or revise any such statements in light of new information or future events,except as required by law.

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