On February 14, the Teijin Group announced that Teijin Automotive Technology, which is engaged in the automotive composite molding materials business, will start commercial production in January 2022 at the new China No. 2 Plant Composite Materials Production Base in Changzhou, China.
It mainly produces lightweight body panels and high-strength structural components for passenger cars, as well as lightweight products such as motors for new energy vehicles and polymer resin shells for batteries. The products of this base are mainly supplied to automobile manufacturers such as Geely Automobile, SAIC and GAC.
In addition, Teijin will build a third factory in China in Shenyang City.
The Teijin Group stated that it will take the opportunity of the second factory in China to start commercial production and build a third factory to establish a firm position as one of the world's leading companies in the automotive composite materials market. Technology research and development and various initiatives to reduce CO₂ during the life cycle, and strive to expand the sales of composite molding materials for automobiles to 2 billion US dollars around 2030.