Auto parts maker G-Tekt to build new plant in China's Guangzhou

Economy

Japanese auto parts maker G-Tekt Corp. will build a new factory in the eastern Chinese city of Guangzhou, Guangdong Province, to cater to the rapidly growing electric vehicle market in the country. G-Tekt plans to open the new factory in April 2023 with an investment of 6.4 billion yen as the company based in Saitama, north of Tokyo, expects robust demand to continue for its lightweight, high-rigidity auto body parts that fit well with EVs. Auto Parts Alliance (China) Ltd., a wholly owned unit of G-Tekt, will set up a new company, Guangzhou Nansha Auto Parts Alliance (China) Ltd., for the oper...

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