Japan's Denso to build plant in Guangzhou, targeting eco-car market
TOKYO, NNA - Japanese auto parts giant Denso Corp. will build an electronics components plant in Guangzhou, southern China.
Denso, a group company of Toyota Motor Corp., signed an agreement on the project with the management board of the Guangzhou Nansha Economic and Technological Development Zone on Friday, Denso spokeswoman Natsumi Suzuki told NNA on Monday.
She confirmed the factory on a plot of about 100,000 square meters will be completed in the early 2020s but declined further comment.
China's Nanfang Daily reported Monday that Denso (Guangzhou Nansha) Co., a manufacturing unit for gasoline vehicles' fuel injection systems wholly owned by Denso (China) Investment Co., sealed the deal to produce electronics parts for eco-friendly vehicles at the new plant.
The Japanese group will start the construction on June 28, planning to invest at least 2 billion Chinese yuan ($289 million) with operations scheduled to start in 2021, the daily said. (NNA/Kyodo)