Hungary’s government has concluded a strategic cooperation agreement with Autoliv, the world’s largest automotive safety supplier, Péter Szijjártó, Hungary’s minister of foreign affairs and trade, said on Thursday.
The agreement will help maintain the rate of economic growth and strengthen the position of Hungarian suppliers, he said. Stockholm-based Autoliv is the 91st corporation to sign a strategic cooperation agreement with the government. These companies, taken together,
employ 193,000 Hungarian workers, 15,000 more than they did when they signed the agreement,
Autoliv manufactures active and passive automotive security systems and accessories. In 2020 it had a share of 42 percent in the global production of airbags, 44 percent in safety belts and 37 percent in steering wheels. It is a supplier of all major car manufacturers of the world, and operates 64 plants in 27 countries.
Szijjártó said that Hungarian-Swedish trade turnover increased by 18 percent last year, and Swedish investment in Hungary came close to 800 million euros.