Japanese automotive parts maker Toyoda Gosei is to invest an additional ¥1.8bn (US$16.8m) to build a new airbag factory in Thai Bình Province, Vietnam, to increase production capacity to meet rising global demand.
The project is expected to start construction in May 2020. When being put into operation in October 2021, the new factory will increase the company’s total airbag production in Vietnam to 25m units, 1.5 times higher than 2018.
The new factory is expected to employ 700 workers initially, which will increase to 2,000 employees by the end of 2023.
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