Mitsubishi Heavy Industries Ltd. said it has prepared a ¥40 billion plan, including a new factory in Thailand, to almost double turbocharger production.

The company plans to increase annual output of car turbochargers to 6.9 million units by the year ending March 31, 2012, Mitsubishi Heavy said Monday in a statement.

Stricter emissions standards are fueling global demand for car turbochargers, which increase an engine's power and allow automakers to make engines smaller and more fuel-efficient.