FAURECIA SIGNS A NEW JOINT VENTURE WITH DONGFENG MOTOR CORPORATION AND EXPANDS ITS PARTNERSHIP TO CLEAN MOBILITY

Shanghai, Chine, Jul 4, 2017,  by Faurecia

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.

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 

Experts
About Faurecia