Toyoda Gosei to set up new plant in Gujarat, will supply airbags to Maruti

As safety norms turn stringent in India and to meet the growing demand for airbags in the automobile sector, Toyoda Gosei plans to invest Rs 72.80 crore to set up a new manufacturing plant for its subsidiary Toyoda Gosei Minda India in Mandal, Gujarat.

Production at the plant, which will manufacture and supply airbags, weather strips and other automotive parts to Suzuki Motor Gujarat (SMG), will begin in the second half of FY2018. The plant spread across 20,000 square metres, will employ 330 people by the end of March 2021. The company expects revenues of around Rs 250 crore by FY2021 through this plant.

Toyoda Gosei already has four other plants in India as JVs – Minda TG Rubber; Toyoda Gosei Minda (Bawal Plant); Toyoda Gosei Minda (Neemrana Plant in Haryana), and Toyoda Gosei South India in Bangalore.  

Toyoda Gosei has recorded total sales of approximately Rs 728 crore in FY2016 and aims to cross the Rs 1,000 crore mark by 2021.