Toyoda Gosei to build another airbag factory in Vietnam
Toyoda Gosei Co. Ltd. of Japan announced on November 13 that it will increase its production of airbag in Vietnam by 1.5 times to meet the increasing demand in the world.
Toyoda Gosei's planned factory in Thai Binh (Photo: businesswire.com)
Hanoi (VNA)💙 – Toyoda Gosei Co. Ltd. of Japanannounced on November 13 that it will increase its production of airbag inVietnam by 1.5 times to meet the increasing demand in the world.
As planned, Toyoda Gosei will build a new plant in thenorthern province of Thai Binh with a total investment of 1.8 billion JPY (16.8million USD). Construction of the plant is expected to start in May 2020.Once put into operation in October 2021, the new factory will help increase thecompany’s total airbag production output in Vietnam to 25 million units, 1.5times higher than the figure in 2018. The plant will employ 2,000 workers by the end of 2023. In the time to come, Toyoda Gosei will increase the capacityat its factory in Hai Phong to meet increasing orders. Airbags produced inVietnam will be exported mainly to Japan and partly to other markets such asASEAN or North America. Currently, Japanese automakers are increasing orders for airbags,causing Toyoda Gosei to quickly decide to increase its capacity to meet thedemand. According to the company’s medium-term business plan to 2025,Toyoda Gosei will focus on producing safety devices for cars, in which the airbagproduction output will reach 100 million units by 2023, 1.6 times higher than in2018. Established in 1949, Toyoda Gosei is a leading manufacturerof car components and accessories in Japan. The firm owns 67 factories in 17countries around the world./.
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Toyoda Gosei's planned factory in Thai Binh (Photo: businesswire.com) 
