Toyoda Gosei has announced that its Indian subsidiary, Toyoda Gosei Co., Ltd., has begun operations at its new automotive parts plant in Gujarat.
The Gujarat plant of Toyoda Gosei Minda India Pvt. Ltd. (TGMIN) will supply airbags, the demand for which is growing with the increasing automobile production and stricter safety regulations in India. The plant also will supply steering wheels, weatherstrips and other parts to Suzuki Motor Gujarat Pvt. Ltd.
India is a key market for Toyoda Gosei, and the company has been enhancing its development and production network there, including the establishment of a new technical and sales office (Gurugram Office) in a suburb of Delhi in April 2018. Toyoda Gosei plans to increase its sales volume in India to 35 billion yen (approximately $308 billion) by fiscal 2025, more than twice the current level.
Last month, Toyoda Gosei also announced increased investments in China with the purchase of a majority stake in Hubei Rock Rubber and Seal Technology Co. Ltd