Teijin is setting up Teijin Automotive Centre Europe (TACE) in Wuppertal, Germany as a new base for technical functions within the company’s automotive composite business. TACE will enable Teijin to strengthen and advance its solution capabilities by forming a strong platform for collaboration within the Teijin Group’s European automotive composite bases.
TACE, to be established in February, is expected to speed up concept, designing, prototyping and the evaluation of technological proposals developed by each base. Later, TACE will develop marketing and research functions to explore opportunities for new technologies and M and A, aiming to accelerate joint development with European automakers and respond to demands for greater design freedom, productivity and cost efficiency as well as weight reduction and strength.Teijin is setting up Teijin Automotive Centre Europe (TACE) in Wuppertal, Germany as a new base for technical functions within the company's automotive composite business. TACE will enable Teijin to strengthen and advance its solution capabilities by forming a strong platform for collaboration within the Teijin Group's European automotive composite bases.#
At the same time, the company will pursue opportunities to establish bases for automotive composite technical functions in the US and China to satisfy demands in these markets to strive to steadily strengthen its position as a global solution provider.
Backed by such initiatives, Teijin is targeting automotive composite business sales of approximately $2 billion by 2030.
Amid the ongoing shift toward Connected, Autonomous, Shared, and Electric (CASE) automobiles, the automotive industry is transforming its business models to realise more lightweight and multifunctional next-generation vehicles. Teijin acquired Continental Structural Plastics (CSP) in 2017 to become a Tier 1 supplier focused on multi-material automotive composite.
To leverage these recent moves, Teijin has now decided to further strengthen its multi-material capabilities in Europe and organically link the development and marketing functions of its European automotive composite bases to satisfy automakers’ demands in the forthcoming CASE era.
Fibre2Fashion News Desk (SV)
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