Denso corporation has announced that it has established a new company to produce car navigation systems in Tianjin, China. The new company, Denso (Tianjin) ITS Co., Ltd., begins production in February 2006.
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Established with an initial capital investment of US$700,000 (76 million yen), Denso (Tianjin) ITS Co. will produce approximately 60,000 navigation units per year when production begins. Denso (China) Investment Co., Ltd., Denso’s wholly owned holding company in China, will provide 95 percent of the initial investment; Tianjin TEDA Group will provide the remaining five percent.
“This is Denso’s first company to produce car navigation systems in China,” said Mitsuharu Kato, managing officer for Denso Corporation’s ITS Product Division. “China is one of the fastest growing markets for car navigation systems, so this company will help us meet the needs of our customers and consumers.”
Demand for car navigation systems in China is expected to increase rapidly from 50,000 units in 2004 to 500,000 units by 2010, Denso says.
