Strategy / 22/04/2013
Faurecia signs joint-venture agreement with Chang’an Automobile Group
Faurecia, the world’s sixth largest automotive equipment supplier, and Chinese automobile manufacturer Chang’an Automobile Group, one of China’s largest automobile groups, today signed an agreement for the establishment of a new 50/50 joint-venture, CSM Faurecia Automotive Systems Company Ltd (CFAS) for automotive interiors. The signing of the agreement today in Shanghai establishes the partnership between both parties and is a further demonstration of Faurecia’s ongoing commitment to the Chinese automotive market.
The new joint-venture has a total planned investment in excess of € 35 million (CNY 293 million), which will be contributed equally by both shareholders and will cover the new industrial sites, equipment and process, design and development as well as tooling costs. The CFAS joint-venture will focus on the development, manufacturing and delivery of automotive interior equipment, including: instrument panels, door panels, center consoles and cockpit modules. With this agreement, the joint-venture will strengthen and broaden the technical cooperation between Faurecia and Chang’an.
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Strategy, Technology, Corporate / 10/07/2015In this June edition, discover how Faurecia opened a new plant in China, was awarded twice for its lightweight and/or energy efficiency technologies, and what the soccer competition organized by the German teams was like!+
Strategy / 11/05/2015
Magneti Marelli and Faurecia joint-venture launches automotive parts production for Fiat Chrysler Automobiles in BrazilMagneti Marelli and Faurecia announce the start of production of their joint-venture delivering interior and exterior parts for vehicles assembled at the new Fiat Chrysler Automobiles plant in Goiana (Pernambuco, Brazil), which was officially inaugurated on April 28, 2015. Named FMM Pernambuco Componentes Automotivos Limitada, the joint-venture is initially majority-owned by Magneti Marelli (65%), while Faurecia holds 35%. The joint-venture targets annual sales of above the €200 million mark in the long run.+