Mexican Media Brands
Faurecia, Dongfeng Launch Huge Venture in China
Faurecia SA and Dongfeng Motor Corp.'s Dongfeng Hongtai subsidiary are setting up a joint venture in China to supply interior and exterior systems to the country's passenger and commercial vehicle makers.
#interior
Share
Faurecia SA and Dongfeng Motor Corp.'s Dongfeng Hongtai subsidiary are setting up a joint venture in China to supply interior and exterior systems to the country's passenger and commercial vehicle makers.
Details, including the name of the venture, have not been announced. The new company already has been awarded a supply contract with Dongfeng Peugeot Citroen Automobile's factory in Chengdu. Faurecia is 52% owned by PSA.
When fully launched, the venture will represent all Faurecia businesses in China and generate medium-term revenue of €2 billion per year, according to the French company. The partners expect to complete government registration for the new company in May.
Faurecia says it will initially consolidate the partnership's exteriors operations on an equity basis. But the venture's management and governance structure will enable Faurecia to eventually fully consolidate the business.
Last year Faurecia's sales in China grew 20% to €2.2 billion. The company operated 38 factories and three research and development facilities in the country. It expects to expand to 55 plants and €4 billion in revenue in China by 2018.
RELATED CONTENT
-
The Genovation GXE: >220 mph and Street Legal
A 2019 Corvette Grand Sport has a starting price on the order of $66,950. The Genovation GXE, which is predicated on the Corvette Grand Sport, will set you back some $750,000.
-
2018 Genesis G80 AWD 3.3T Sport
The thing about the 2018 Genesis G80 AWD 3.3T Sport: The head of a valet service at a restaurant on New Year’s Eve said to me as his associate handed me back the key fob (a hefty object, speaking to the fact that this is a substantial vehicle), “We don’t see many of these.” A couple days later, a locksmith in downtown Plymouth, who was making some keys for autofieldblog HQ (yes, there are still independent locksmiths that make keys for doors) looked out his window and said to me, “What’s that?” Neither of these probably make the people at Genesis all that happy, but in both cases the tone of voice indicated admiration, if not full-on interest.
-
Engineering the 2019 Jeep Cherokee
The Jeep Cherokee, which was launched in its current manifestation as a model year 2014 vehicle, and which has just undergone a major refresh for MY 2019, is nothing if not a solid success.