DENSO Invests $1 Billion in Automotive Manufacturing to Produce the Future of Mobility
- Investment advances U.S. role in crafting the future of electrification and safety technology, creates 1,000+ jobs in Tennessee -
KARIYA, JAPAN, Oct, 09 2017 - (JCN Newswire) - DENSO, one of the world's largest automotive technology, systems and components suppliers, is expanding its U.S. footprint with a $1 billion investment in its Maryville, Tennessee location. The investment is part of DENSO's commitment to advancing automotive innovation in North America, and will significantly increase the role North America plays in the global trend toward vehicle safety and electrification.
DENSO will create more than 1,000 jobs in Maryville, Tennessee to make it a primary manufacturing center in North America for electrification and safety systems. Globally, DENSO is a leading developer of electrification systems for environmentally-friendly automobiles, sophisticated functions involved in vehicle safety and security, and new services that connect vehicles and society. These systems will play a crucial role in meeting increasing electric vehicle demand.
"This is an investment in the future of DENSO, and also the future of transportation. We are seeing dramatic shifts in the role of transportation in society, and this investment will help position us to meet those changing demands," said Kenichiro Ito, chairman of DENSO's North America Board of Directors and chief executive officer of DENSO International America.
DENSO's $1 billion investment will create about 1,000 new production and support jobs, including technicians and engineers. The investment will also expand multiple production lines to produce advanced safety, connectivity, and electrification products for hybrid and electric vehicles. These new products will radically improve fuel efficiency and preserve electric power by recovering and recycling energy, and by connecting all systems and products inside the vehicles. DENSO's products will create the highest efficiency for a whole vehicle by anticipating the road environment via collaboration with information outside the car and using data to enhance performance of electrified products.
DENSO announced a $400 million investment in Maryville in 2015, adding 500 jobs and consolidating various warehouse operations into one central location. The company broke ground on the facility in July 2016.
The $1 billion investment in Maryville is the latest in a line of strategic investments in North America for DENSO. The company recently invested $75.5 million in its Southfield, Michigan headquarters and Dublin, Ohio facilities.
DENSO Corporation, headquartered in Kariya, Aichi prefecture, Japan, is a leading global automotive supplier of advanced technology, systems and components in the areas of thermal, powertrain control, electronics and information and safety. Its customers include all the world's major carmakers. Worldwide, the company has more than 200 subsidiaries and affiliates in 38 countries and regions and employs nearly 140,000 people. Consolidated global sales for the fiscal year ending March 31, 2014, totaled US$39.8 billion. Last fiscal year, DENSO spent 9 percent of its global consolidated sales on research and development. DENSO common stock is traded on the Tokyo and Nagoya stock exchanges. For more information, go to www.globaldenso.com, or visit our media website at www.densomediacenter.com.
Sectors: Electronics, Automotive
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