Toray and Daimler form a joint venture to produce carbon fiber parts

Toray Industries of Japan recently established a joint venture with Daimler to produce carbon fiber automotive parts.

The joint venture will produce Auto Parts made of carbon fiber reinforced plastics from 2012 onwards. Toray and Daimler own 50.1% and 49.9% of the joint venture company respectively, which is located in Esslingen, Germany.

Carbon fiber is lighter and more expensive than steel and aluminum. At present, most of the carbon fiber products are used in the top racing, sports cars and aerospace industries.

However, with the increasingly stringent automobile exhaust emission standards and the rise of electric vehicles, luxury car manufacturers are looking for ways to mass-produce carbon fiber products to reduce vehicle weight.

Last year, Daimler’s competitor BMW and SGL established a joint venture to produce carbon fiber materials.