Toyoda Gosei Co., Ltd., through its regional headquarters in China, Toyoda Gosei (China) Investment Co., Ltd. (TG China), is investing in Wuhan Binyu Auto. Part Co., Ltd. Consequently, this will strengthen Toyoda Gosei’s manufacturing supply system. Particularly, the company’s investment move will for interior and exterior automotive parts in central China.
Wuhan Binyu is a production company in the Yibin Group (Ningbo Yibin Electronic Technology Corp.). In fact, they supply interior and exterior automotive parts in China’s major automobile manufacturing regions, such as north China, south China, central China.
Particularly, Wuhan Binyu provides console boxes and cockpit components to Dongfeng Honda Automobile Co., Ltd. and Dongfeng Motor Co., Ltd. (Dongfeng Nissan) in central China.
With this investment, the Toyoda Gosei Group aims to grow its sales in China. Eventually, the partnership will hone its engineering and production expertise as a global supplier of plastic parts. Most importantly, it will be able to leverage on Ningbo Yibin’s solid reputation over the years among automakers in China.
Based in Wuhan, in China’s Hubei province, Wuhan Binyu has an initial capital of 20 million Chinese yuan (US$3 million). When it established the Wuhan Binyu in 2013, Ningbo Yibin has 100 percent shares. However, Toyoda Gosei’s investment will enable the company to have 34 percent shares at Wuhan Binyu while Ningbo Yibin will maintain majority share at 66 percent.
Wuhan Binyu office and facility lies in a 27,000sq.m land area and has about 174 employees.