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Tag: Denso

  • Denso to invest $190 million in Tennessee plant, creating 320 jobs

    Denso to invest $190 million in Tennessee plant, creating 320 jobs

    Japanese auto parts supplier Denso Corp (6902.T) said on Wednesday it will invest $190 million in an existing Athens, Tennessee, plant to produce components for fuel delivery, ignition and exhaust gas systems for automakers in North America.

    The investment will add four production lines and create 320 jobs, the company said in a statement.

    Denso said the plant will have one new production line devoted to gasoline direct injectors and the other three for fuel pumps.

    In October Denso, Toyota Motor Corp’s (7203.T) largest supplier, said it would invest $1 billion in its Maryville, Tennessee, plant to develop vehicle electrification and safety systems, creating around 1,000 jobs.

    Last month, Toyota and Mazda Motor Corp (7261.T) announced a $1.6 billion joint venture assembly plant in Alabama that will employ up to 4,000 workers and produce 300,000 vehicles a year.

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  • Japan’s Denso considering $440 million investment in JOLED

    Japan’s Denso considering $440 million investment in JOLED

    Japanese auto parts maker Denso Corp is considering a 50 billion yen ($440 million) investment in organic light-emitting diode (OLED) panel maker JOLED, Kyodo news reported, citing sources close to the matter.

    JOLED, majority owned by a state-backed technology investment fund, sold its inaugural batch of OLED screens this month, and has said it wants to raise 100 billion yen by the end of March to expand its currently limited capacity.

    The move comes amid the growing popularity for OLED screens, which are generally thinner and can show more vivid colors than liquid crystal display (LCD) panels. Smartphone makers have been shifting to OLED, including Apple Inc which has adopted them for its iPhone X.

    Cash-strapped domestic display makers such as Japan Display Inc, which has a 15 percent stake in JOLED, and rival Sharp Corp are struggling to respond to the shift, letting Korean rivals Samsung Electronics Co Ltd and LG Display Co Ltd take the lead.

    The Nikkei reported earlier this month that Japan Display had considered investing in JOLED but decided it did not have the funds. Japan Display has said it wants to start mass-producing OLED screens to better compete with Samsung and that it needs capital to do so but has so far declined to disclose details of any negotiations.

    Kyodo’s report said that Sony Corp and Panasonic Corp, which both own 5 percent in JOLED, are also expected to invest 5 billion to 10 billion yen each.

    Sumitomo Chemical Co and Screen Holdings Co are considering chipping in, and the four companies are together seen investing 20 billion to 40 billion yen in JOLED, Kyodo said.

    A JOLED representative said the company was in talks with various materials and equipment makers about the investment, but that nothing specific had been decided.

    A Denso spokesman said the reported plan wasn’t something the company announced, while a Screen Holdings spokeswoman denied the company was considering the investment. Sony said nothing had been decided, while Panasonic and Sumitomo Chemical declined to comment.

    JOLED was created in 2015 by merging the OLED divisions of Sony and Panasonic.

    Analysts have said it lacks the scale and expertise of display makers which have smartphone-size panels. JOLED is 75 percent owned by state-backed fund, the Innovation Network Corporation of Japan.

  • Denso to invest $1 billion creating 1,000 jobs

    Denso to invest $1 billion creating 1,000 jobs

    Japanese auto parts supplier Denso Corp plans to invest $1 billion in its Maryville, Tennessee plant to develop vehicle electrification and safety systems, creating around 1,000 jobs.

    This is the latest in a series of announcements from automakers rushing to bring a large number of electric vehicle models to market in the coming years.

    Policymakers in key markets such as China are pushing a shift to electric cars from internal combustion engines over the next two to three decades, while relatively new rival Tesla is gaining momentum, pressuring traditional automakers to crank up plans for fully electric vehicles.

    Denso said in a statement the investment would expand multiple production lines at the facility to produce advanced safety, connectivity and electrification products for hybrid and electric vehicles. The new jobs will include production workers, technicians and engineers.

    “We are seeing dramatic shifts in the role of transportation in society, and this investment will help position us to meet those changing demands,” Kenichiro Ito, chairman of Denso’s North American board, said in a statement.

    In 2015 the auto supplier announced a $400 million investment in Maryville and the creation of 500 jobs.

    Last week, Toyota Motor announced a joint venture with partner Mazda Motor Corp (7261.T) to develop electric vehicle technology. Toyota will take a 90 percent stake in the joint venture while Mazda and Denso, Toyota’s biggest supplier, will each take 5 percent.

    No. 1 U.S. automaker General Motors said this week it would add 20 new battery electric and fuel cell vehicles to its global lineup by 2023.

    A day later, Ford Motor said it planned to slash $14 billion in costs over the next five years and shift capital investment away from sedans and internal combustion engines to develop more trucks and electric and hybrid cars.