On October 31st, the world's leading auto parts supplier, Faurecia, announced that it will join hands with China's electric vehicle manufacturing leader BYD to form a new joint venture. The joint venture, called Shenzhen Faurecia Auto Parts Co., Ltd., will focus on developing and providing advanced seating system solutions for BYD's entire vehicle brand. Among them, Faurecia holds 70% and BYD holds 30%. Card Case,Id Card Holder,Case Card Holder,Business Card Holder Ningbo Foil Mori Import and Export Co., Ltd. , https://www.foilmori.com
The strategic cooperation will integrate BYD's seat production projects in Shenzhen, Xi'an and Changsha. It is expected that by 2020, the new company is expected to achieve sales of 2.4 billion yuan.
Mr. Patrick KOLLER, CEO of Faurecia Group, said: “Foggia attaches great importance to working with the leaders of the Chinese electric vehicle market like BYD, which is of great significance. This cooperation will promote Faurecia's own auto in China. With the rapid growth of the brand market, it is planned that by 2020, Faurecia's business share of China's own brands will reach 40% of the Group's sales in China. The newly established joint venture will also help Faurecia develop new energy vehicles in China. Parts market."
BYD is a leading manufacturer of new energy vehicles in China and has leading technical advantages in battery, electric motor, electronic control and automobile. Up to now, BYD's new energy vehicles have been operated in more than 210 cities on 6 continents, 50 countries and regions.