Strategy / 19/07/2017
Faurecia takes majority share in Chinese infotainment leader Jiangxi Coagent Electronics
Jiangxi Coagent Electronics is a private Chinese company specialized in infotainment and interior electronic solutions, including the integration of digital displays and HMI technologies. The company employs 1,300 people including more than 300 engineers. Jiangxi Coagent Electronics is based in Foshan for its Research and Development activities and in Jiangxi Province for its industrial production. The company is a supplier to leading Chinese automotive manufacturers and is seeing a strong growth in sales, which reached 148 million euros in 2016 and will rise to 270 million euros by 2019.
Patrick Koller, Faurecia CEO, said: “We are very pleased to invest in Jiangxi Coagent Electronics, one of the leaders in China for infotainment. This acquisition marks another important step in the development of our technology offer for the Cockpit of the Future. The strong synergies that exist between Parrot Automotive and Jiangxi Coagent Electronics will make our offer more relevant for our customers.”
Parrot Automotive and Jiangxi Coagent Electronics will leverage a shared commercial and industrial strategy as well as developing a common technology offer led by the combined force of over 700 software engineers (by mid-2018).
The closing is expected to take place before the end of 2017.
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.+
Strategy / 03/07/2017
Faurecia signs a joint venture with Wuling Industry for automotive Seating and takes a step forward to deepen local strategyFaurecia today announced its new joint-venture with Liuzhou Wuling Industry Co.Ltd, named Faurecia Liuzhou Automotive Seating Co. Ltd. The joint venture will develop, manufacture and deliver automotive seating products to serve SGMW affiliated OEM brands and other customers.+