Faurecia has finalised the acquisition of a majority stake in Jiangxi Coagent Electronics, renamed Faurecia Coagent Electronics S&T.
The joint-venture company will be dedicated to develop integrated in-vehicle infotainment solutions.
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“There are strong synergies possible between Parrot Automotive and Faurecia Coagent Electronics,” said a Faurecia statement.
“The two companies will be able to leverage a shared commercial and industrial strategy as well as developing a common technology offer led by the combined force of over 700 software engineers by mid-2018.”
Founded in 1997, Faurecia has 330 sites including 30 R&D centres and 100 000 employees in 34 countries.
Faurecia is a major player in its three areas of business: automotive seating, interior systems and clean mobility and has focused its technology strategy on providing solutions for smart life on board and sustainable mobility. In 2016, the Group posted total sales of EUR18.7bn (US$25bn).
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By GlobalDataThe French supplier also recently inked a joint venture with Chinese automaker, BYD.
