Japanese auto part maker Denso has announced that it will expand its investment in its Wuxi operation, according to Wuxi Daily.
The company, which already has a considerable presence in the city, is expected to increase production, boost staff numbers to 1,000, and see its annual turnover rise to 6.66 billion yuan ($1 billion) in the next five years, according Michio Adachi, senior executive director at Denso.
Wang Jinjian, Wuxi's deputy mayor met with Adachi on Jun 29 to discuss further cooperation.
Adachi said that Wuxi has now become Denso's key production base in China after the company's auto air-conditioning project started operating in the city at the beginning of this year.
Denso is Japanese auto giant Toyota's largest component supplier, and ranks 293 on the Fortune's Global 500 list. With the total investment of $51.8 million, it set up a branch company in Wuxi National Hi-tech District in 2005. The base mainly engages in engine parts production, such as automotive ignition coils and discharge sensors.
