Toyoda Gosei plans to establish a new US$24.6m plant for producing airbag parts in the northern Vietnamese province of Thai Binh. Construction is expected to start in March 2018.
The factory is planned to be built on an area of 2.1 hectares in the province’s Tien Hai Industrial Park and is designed to meet growing demand for airbags, as safety regulations become more stringent worldwide.
The new plant will be a subsidiary of Toyoda Gosei Haiphong and will start production of airbag parts and steering wheels in July 2019 for export to final airbag assembly plants in Japan, North America, Europe and other regions.
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