DETROIT -- Hitachi Automotive Systems CEO Kunihiko Ohnuma says he targets double-digit global sales growth from 2016 to 2020 as the company taps surging demand for auto electronics.
The company, which is expanding its North American manufacturing footprint, expects growth to be driven in part by electrified drivetrains and advanced active-safety technologies.
Hitachi stands to benefit from tougher fuel economy, emissions and safety standards that are driving demand for hybrid and electric vehicles and for such safety systems as precrash braking.
The company also is rolling out electronic pumps and other components that substitute for traditional hydraulic systems.
Ohnuma has said he aims to boost global sales 12 percent to ¥1 trillion ($8.37 billion) in the fiscal year ending March 31, 2016, up from $7.46 billion in the fiscal year that ended March 31, 2014.
He declined to give a specific sales figure for the fiscal year ending March 31, 2021, which would be the last year of his targeted growth plan.
Hitachi Automotive is No. 20 on the Automotive News list of the top 100 global suppliers.
As part of Ohnuma's growth plan, Hitachi will expand its Michigan technical center, which employs 300 people, including 200 engineers. It aims to bring on more electrical and software engineers, though executives declined to give a hiring target.
Hitachi wants overseas customers to account for 60 percent of global sales by early 2016, compared with 53 percent last year.
Ohnuma said in an interview here that sales in China will see the fastest growth in the coming year, followed by sales in North America.
Hitachi Automotive generates about $2 billion in annual sales to automakers doing business in North America, and Ohnuma said he expects that to grow 10 percent by next year.