Beijing (Gasgoo) – Joyson Safety Systems, a auto parts supplier to China, Joyson Electronics, began construction of its new industrial base in Hefei, Anhui Province, the company said on April 6.
Photo: Joyson Safety Systems
The base is the third R&D center of Joyson Safety Systems and the seventh smart plant in China. The first phase of the project has an estimated production cost of 2.5 billion yuan ($ 392.9 million) per year. The base will be commissioned by the end of 2023.
The main products of Joyson Safety Systems in China include advanced sensors, side airbags, driver monitoring systems, passenger classification sensors, intelligent rudders, and event prevention and protection systems.
As automakers and consumers increasingly value on-board safety, Joyson Safety Systems products have been deployed in the supply chains of various well-known automakers in China, including NIO, Li Auto, XPeng, BYD and SAIC Motor. The company has entered a phase of large-scale production.
Since the beginning of 2022, the Joyson Safety System has received new orders of 4.2 billion yuan ($ 660.1 million) in China and 4.5 billion yuan ($ 707.22 million) in Europe. In the first two months of this year, the company earned 5.2 billion yuan ($ 817.24 million) in revenue. So far, the company has accumulated 220 billion yuan ($ 3.46 billion) worth of orders.