Faurecia finalizes its partnership with Parrot Automotive and accelerates development of connectivity solutions for the vehicle of the future
Parrot Automotive, an automotive connectivity and infotainment specialist, will benefit from new growth opportunities through Faurecia’s strategic relationship with its customers.
With Faurecia technologies the Cockpit of the Future will be:
- Connected, thanks to a smart man-machine interface and onboard electronics providing intuitive connectivity between the occupants, the vehicle and the outside world
- Versatile, combining safety, well-being and comfort. Depending on the mode selected, the driver will be able to adjust his position in the cockpit and have additional consoles and screens, all in complete safety
- Predictive, improving safety, comfort and user-friendliness. Data captured by Faurecia inside the vehicle will be used to anticipate, learn and adapt to the specific needs of each occupant.
In addition, this partnership could enable Faurecia to gradually take control of Parrot Automotive. Initially, it will acquire a 20% share through a capital increase reserved for Faurecia based on a corporate value of €100 million for 100% ownership of Parrot Automotive. At the same time, Faurecia will subscribe to a bond issued by Parrot SA, convertible into Parrot Automotive shares, which could increase Faurecia’s stake in the company to 50.01% from 2019, in case of conversion. By 2022, Faurecia could be in possession of all Parrot Automotive shares.