KIYOSU, Japan—Toyoda Gosei Co. is building a new plant in India to meet the country's growing automotive demand, the company announced in May.
The $11.2 million plant, which will be built in Gujarat, west India, will be Toyoda Gosei's fifth production facility in the country and will be producing airbags, weatherstrips and other automotive parts.
The building of the new unit is timed to meet an expected increase in demand for airbags as stricter safety regulations are adopted in India.
The plant will be a branch of Toyoda Gosei Minda India Pvt. Ltd.(TGMIN), and will supply to Suzuki Motor Gujarat in the second half of fiscal 2018.
Built on a 215,000-sq.-ft. plot of land, the 91,493-sq.-ft. plant is expected to employ 330 people by 2021 and have sales of over $38.1 million by the end of 2021 fiscal year ending March 31, 2021.
Toyoda Gosei said it viewed India as an important market, and has been expanding production capacity in the country.
The company's total sales in India reached $126.7 million in 2016, which the company expects to increase to $181 million by 2021.