The firm is to invest ₹230 crore in the first phase, in the manufacturing of airbag inflators
Japanese firm Daicel Corporation will be setting up an airbag inflator manufacturing plant at CapitaLand’s OneHub Chennai, an industrial township located on Old Mahabalipuram Road, entailing investments to the tune of ₹230 crore in the first phase. Daicel is scheduled to start operations by December 2023.
“Until now, we have been supplying products to the Indian market from our production site in Thailand and other countries,” said Takase Yoshifumi, Managing Director, India Operations, Daicel Corporation. He added, “However, due to the growth potential of the Indian automobile market, and the need to strengthen automobile manufacturer and airbag module manufacturer supply chains in India, we have decided to establish a local production site at OneHub Chennai.”
He further said, “We will further strengthen our presence in the Indian market through stable production and supply of products, contributing to the development of the Indian economy through both inflator production and parts’ procurement in the country.”
Earlier, in October 2018, in response to growth in the Indian automobile market and the tightening of safety regulations, Daicel established a sales base (Daicel Safety Systems India Pvt. Ltd., DSSI in Gurugram, Haryana.