Toyoda Gosei Co. will increase the production capacity at Toyoda Gosei Haiphong Co., Ltd. (TGHP), a production subsidiary making airbag parts in Vietnam, to meet the growing demand for airbags globally.
A new building will be constructed at the company’s Thai Binh Plant and annual production capacity of the bags that inflate on impact in Vietnam will be increased to 2,500 bags by 2023, about 1.5 times the level the company produced in fiscal year 2018. Investment for this plant expansion will be about $16.8 million. The construction of the new building and production at this plant will begin in May 2020 and October 2021, respectively.
Airbags and other safety system products are a key business in Toyoda Gosei’s 2025 Business Plan, and by 2023 the company plans to increase global airbag production to 100 million units annually, approximately 1.6 times the level in fiscal year 2018.