Toyoda Gosei begins operations at new automotive parts plant in Gujarat
Toyoda Gosei Minda India (TGMIN), a subsidiary of Toyoda Gosei, a global manufacturer of automotive parts, has started operations at its new automotive parts plant, built with an investment of INR 732 million ($10.4m) in Gujarat.
The new automotive parts plant, which is located in Dekavada, will manufacture airbags, steering wheels, weatherstrips and other safety systems and parts to Suzuki Motor Gujarat.
Toyoda Gosei says that there is an increased demand for airbags in India due to the growth in automobile production to go along with stricter safety regulations in the country.
Toyoda Gosei considers India as an important market, which is why it is looking to improve its development and production network in the country. As part of it, the company is going to establish a new technical and sales office in Gurugram in April 2018.
Toyoda Gosei now has a production network of five plant locations in India. The Toyoda Gosei subsidiary aims to double its sales volume in India to 35 billion yen by fiscal 2025.
Its parent company Toyoda Gosei, which is headquartered in Kiyosu in Japan, is a specialty manufacturer of rubber and plastic automotive parts.