This new factory is the second-phase plant expansion of Toyo Automation in Tainan following the completion and commissioning of the first-phase plant expansion in 2019. The new factory covers an area of approximately 1,800 square meters and is planned to be a modern plant with 1 underground floor and 4 above-ground floors. Upon completion, the total floor area will be approximately 5,000 square meters. It is expected to be completed by the end of 2023 and officially put into production in the first quarter of 2024. The total investment in the Xinji Second Factory is about 1 billion yuan. After its opening, it is expected to increase revenue by more than 2-3 billion yuan and create more than 200 local jobs in Tainan.

Lin Zongde, Chairman of Toyo Automation, emphasized that although the epidemic is severe and inflation has led to rising prices of building materials, which has increased the difficulty of expanding the second factory, Toyo Automation still hopes that through the expansion of the second factory, it can increase production capacity and the layout of R&D capabilities, enabling Toyo Automation to capture more than 15% of the electric slide market in Asia in the next few years and become one of the world's top three electric cylinder manufacturers. Currently, Toyo Automation's products need to compete with major global manufacturers, and independent technological development is an important starting point. Therefore, the factory expansion will increase investment in R&D and production. The second factory will be an important milestone, and it is hoped that China's high-quality independent brand "TOYO" will truly go global and create the value of "made in China".