Faurecia forms seat JV with BYD in Shenzhen
French supplier Faurecia is establishing a joint venture with BYD Co. to produce seats for the Chinese automaker.
The new company, a 70-30 partnership between Faurecia and BYD, is incorporated in the south China city of Shenzhen, where BYD is based.
The venture will build seats for BYD vehicles assembled at plants in Shenzhen, Xi’an and Changsha. The partnership is expected to generate accumulative sales of 2.4 billion yuan ($360 million) by 2020, according to Faurecia.
Since 1992, Faurecia has built 44 plants in China that produce seats, interior components and emissions control systems.
In the first half of 2017, Faurecia’s China sales jumped 19 percent year on year to 1.1 billion euros (8.2 billion yuan) on growing sales to Chinese automakers. During the period, sales to Chinese automakers totaled 156 million euros, nearly double the supplier’s revenues from a year earlier.
By 2020, Faurecia expects to derive 40 percent of its China sales from Chinese automakers, up from 13 percent in 2016.
BYD Co., partly owned by U.S. billionaire Warren Buffett, is China’s largest producer of electric vehicles. It is listed in Hong Kong and Shanghai.
The venture will build seats for BYD vehicles assembled at plants in Shenzhen, Xi’an and Changsha. The partnership is expected to generate accumulative sales of 2.4 billion yuan ($360 million) by 2020, according to Faurecia.
Since 1992, Faurecia has built 44 plants in China that produce seats, interior components and emissions control systems.
In the first half of 2017, Faurecia’s China sales jumped 19 percent year on year to 1.1 billion euros (8.2 billion yuan) on growing sales to Chinese automakers. During the period, sales to Chinese automakers totaled 156 million euros, nearly double the supplier’s revenues from a year earlier.
By 2020, Faurecia expects to derive 40 percent of its China sales from Chinese automakers, up from 13 percent in 2016.
BYD Co., partly owned by U.S. billionaire Warren Buffett, is China’s largest producer of electric vehicles. It is listed in Hong Kong and Shanghai.
