Faurecia, one of the world’s largest automotive suppliers, 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.
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.
Faurecia is one of the world's largest automotive equipment suppliers, with three key Business Groups: Seating, Interiors and Clean Mobility. In 2016, the Group posted total sales of €18.7 billion. At December 31, 2016, Faurecia employed 100,000 people in 34 countries at 330 sites and 30 R&D centers. 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
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