DENSO to invest $1 billion in North America
Global automotive supplier DENSO Corp. is investing nearly $1 billion in North America over the next four years, which will result in more than 2,000 jobs across the region.
The investment will allow DENSO to better support its North American customers, as well as expand new business areas and localize products, many of which will help automakers meet upcoming fuel requirements. More than $750 million will be invested in the United States alone, along with more than 1,200 jobs.
"Last year, we announced that DENSO will drastically localize product in the regions in which we operate," says Terry Helgesen, senior vice president of Industry Relations at DENSO International America Inc. "Not only are we making products in North America, but we're also localizing critical tooling."
In the U.S., DENSO is looking at investing more than $750 million in Michigan, Tennessee, Iowa, California and North Carolina. The investment represents an increase in research and development, an expansion in existing production lines, the creation of new production lines, and the opening a new assembly and warehouse facility to support its heavy-duty customers.
Not only does the investment represent a localization of technology, but DENSO is also investing in making more of its own manufacturing equipment and dies here. In the future, DENSO plans to make all of its critical manufacturing equipment in North America. The company has sourced millions of dollars in business to American machine shops.