Teijin Automotive Technologies, the core company of the Teijin Group’s automotive composites business, announced that it has begun commercial operation of a new composites manufacturing facility in the Wujin National Hi-Tech Industrial Zone based in Changzhou, Jiangsu province, China. The new facility boasts 39,000 square meters of work area. The company also announced that it is constructing a third plant in China, based in the Technological Development Zone of the Tiexi District in Shenyang, Liaoning province, and will begin operating this plant, with 13,000 square meters of production space, in the summer of 2023.
Teijin Automotive Technologies selected the Changzhou and Shenyang areas for its new plants due to their close proximity to the production facilities of several major European, U.S. and Chinese automakers. Both plants will help to meet the growing demand for composites components due to the growth of the electric vehicle (EV) market in China. The two plants will significantly boost the company’s ability to supply lightweight, safe, energy-efficient and durable composite components, which are indispensable for environmentally friendly vehicles. With the second plant’s startup and the third plant’s construction, Teijin Automotive Technologies is actively strengthening its position as a worldwide leader in automotive composite applications. Concurrently, the company is developing applications for advanced composite materials and processes to support its automotive customers’ challenges of achieving ambitious weight and CO2 reduction targets, and lower EV production costs. Teijin is targeting annual sales of $2 billion for its automotive composite products business by 2030.