Denso to invest $1bn in automotive plant in Tennessee
"This is an investment in the future of Denso, and also the future of transportation," Kenichiro Ito, the chairman of Denso North America, said in a statement. "We are seeing dramatic shifts in the role of transportation in society, and this investment will help position us to meet those changing demands."
Denso will aim to make the Maryville plant the company’s primary manufacturer in North America for electrification and safety systems.
The company plans to expand several production lines to produce advanced components for hybrid and electric vehicles. The products are designed to improve fuel efficiency and preserve electric power by recovering and recycling energy.
The new plan will create more than 1,000 new jobs, the company said.
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