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JCI, SAIC Unit Form Global Auto Interiors Venture
Johnson Control Inc. and a subsidiary of Shanghai Automotive Industry Corp. have signed an agreement to launch what they describe as the world's largest automotive interiors company.
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Johnson Control Inc. and a subsidiary of Shanghai Automotive Industry Corp. have signed an agreement to launch what they describe as the world's largest automotive interiors company.
The partnership, called Yanfeng Automotive Interiors, will be 70% owned by Yanfeng Automotive Trim Systems Co., a unit of SAIC's Huayu Automotive Systems Co. subsidiary. The companies announced plans for the venture last May and expect to begin joint-venture operations in July.
Yanfeng Automotive will be based in Shanghai and generate annual revenue of at least $8.5 billion, according to the partners. The venture will operate more than 90 production, research and engineering facilities worldwide.
JCI and Yanfeng Automotive Trim have partnered on automotive seating in China for 16 years. The company will supply such products as instrument panels, cockpit systems, door panels floor consoles and overhead consoles.
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