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05.07.2017 16:25
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Faurecia Signs A New Joint Venture With Dongfeng Motor Corporation And Expands Its Partnership To Clean Mobility
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PR Newswire
AUBURN HEIGHTS, Mich., July 5, 2017
AUBURN HEIGHTS, Mich., July 5, 2017 /PRNewswire/ -- Faurecia, one of the world's largest automotive suppliers, today signed a joint venture agreement for its Clean Mobility business with Dongfeng Motor Parts & Components Group Co., Ltd. in Wuhan. The new company aims to provide advanced clean mobility solutions to Dongfeng affiliated OEM brands, for both passenger cars and commercial vehicles. This joint venture builds upon Faurecia's long term partnership with Dongfeng, with whom it already has a joint venture for its Automotive Interiors Business.
Located in Xiangyang, the new joint venture will begin operations in 2018. The annual sales should reach 1.2 Billion RMB (€ 155 million) by 2021.
Patrick Koller Faurecia CEO declares: "We are very much honored to extend our partnership with Dongfeng to our Clean Mobility business and thus bring innovative and breakthrough technologies to the Chinese market. This joint venture builds on the important relationship which Faurecia has developed with Dongfeng over the years and contributes significantly to our strong growth in China."
Dongfeng Motor Parts & Components Group Co., Ltd. is a subsidiary of Dongfeng Motor Co., Ltd., and is specialized in research & development, manufacturing and sales of auto parts. Dongfeng Motor Parts & Components Group Co. Ltd. has 16,800 employees and 32 subsidiaries, including a listed company named Dongfeng Electronic Technology Co., Ltd. (Stock Code: 600081). The annual sales of the Group in 2016 were RMB 12 billion, which make it one of the largest auto parts suppliers in China.
About Faurecia
Founded in 1997, Faurecia has grown to become a major player in the global automotive industry. With 330 sites including 30 R&D centers, 100 000 employees in 34 countries, Faurecia is now a global leader in its three areas of business: automotive seating, interior systems and clean mobility. Faurecia has focused its technology strategy on providing solutions for smart life on board and sustainable mobility. In 2016, the Group posted total sales of €18.7 billion. Faurecia is listed on the NYSE Euronext Paris stock exchange and trades in the U.S. over-the-counter (OTC) market. For more information, visit www.faurecia.com
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/faurecia-signs-a-new-joint-venture-with-dongfeng-motor-corporation-and-expands-its-partnership-to-clean-mobility-300483403.html
SOURCE Faurecia
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