Strategy / 03/07/2017
Faurecia signs a joint venture with Wuling Industry for automotive Seating and takes a step forward to deepen local strategy
Located in Liuzhou, Guangzhou province, the joint venture will manufacture and sell complete seats, frames and other seat components initially to SGM Wuling from three existing plants and one additional plant to be built. The annual sales will reach 1.8 billion RBM by 2022.
Hagen Wiesner, EVP of Faurecia Automotive Seating declares: “We are very pleased to have signed this joint venture which will enable us to accelerate our sales with one of the leading Chinese automakers. This strategic partnership will thus contribute to our profitable growth in China and the Group's objective to achieve 20% of our sales with Chinese OEMs by 2018 and 30% by 2020. Furthermore, it is a step forward to increase our localization and expand our footprint in the Southwest of China.”
Established in 2007, Liuzhou Wuling Industry Co, Ltd is jointly owned by Guangxi Auto Group Co., Ltd and Wuling Motor Holdings Limited, specialized in auto parts, engines and specialty auto design & manufacturing. It business covers both auto parts and OEM manufacturing with facilities based in Liuzhou, Qingdao and Chongqing. The annual sales are over RMB 10 billion.
Strategy / 19/07/2017Faurecia announced today that it had taken a majority share in the Chinese company Jiangxi Coagent Electronics for a total investment of 1.45 billion RMB (193 million euros).+
Strategy / 04/07/2017
Faurecia signs a new joint venture with Dongfeng Motor Corporation and expands partnership to Faurecia Clean MobilityFaurecia today signed a joint venture agreement for its Clean Mobility business with Dongfeng Motor Parts & Components Group CO., Ltd in Wuhan.+