Toyoda to Expand Airbag, Steering Wheel Capacity in Vietnam

Toyota Motor Corp. affiliate Toyoda Gosei Co. plans to open a new manufacturing plant in Vietnam that will expand its production capacity in the country for airbag components by nearly 60% and steering wheels by 45% by 2023.

The 224,000-sq-ft plant in Haiphong will have capacity to build 23 million airbag components and 3.2 million steering wheels per year, according to Toyoda Gosei. The airbag parts will be shipped to final assembly plants in Japan, North America, Europe and other regions.

Toyoda Gosei is investing $25 million in the facility, which will be operated by the company’s Toyoda Gosei Haiphong Co. Construction is due to start next march and be completed by mid-2019. Employment is expected to reach 1,000 people by 2021.

Toyoda Gosei opened its first plant in Vietnam in 2004 and now operates three facilities in the country.