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Faurecia says there is the potential to create 600 new jobs in R&D and production for Zero Emission Mobility as well as Cockpit of the Future solutions, following President Emmanuel Macron’s unveiling of a EUR8bn (US$8.8bn) support package for the automotive sector.

The French supplier also highlighted EUR200m (US$219m) of potential investment to promote domestic industrial production of breakthrough technologies and indirect job creation.

France is the historical centre of Faurecia’s activities, with 30 industrial sites and seven R&D centres, employing more than 13,700 people, including 1,600 engineers.

Faurecia recently created its global centre of expertise dedicated to the development and production of hydrogen storage systems in Bavans (Doubs), representing an initial investment of EUR25m and the creation of 60 jobs. The centre will supply new-generation high-pressure tanks from summer 2021 onwards.

The Group also plans to build a larger plant in France, which would represent an additional investment of around EUR50m and the creation of 150 jobs.

Faurecia and Michelin have also created a joint venture – Symbio – with 200 employees and bringing together the two Groups’ hydrogen fuel cell stack activities, with an initial investment of EUR140m. The two partners intend to build a new plant dedicated to the production of fuel cell stacks in the Lyon region.

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By GlobalData

Government support for industrial and technological projects in the field of sustainable mobility and hydrogen in particular, will be key in enabling Faurecia to make these investments, create a competitive French industrial sector and generate hundreds of value-added jobs.

Faurecia has set itself the primary objective of achieving CO2 neutrality for scopes 1 & 2 by 2025. During the next five years, EUR70m will be invested in efforts to achieve the objective.

In addition, in 2017, Faurecia created a centre of expertise to develop artificial intelligence-based solutions in order to accelerate its digital transformation. This ‘Digital Service Factory’ has created 150 jobs.

“The measures announced today by the French President are a key milestone in the economic recovery of the French automotive industry,” said Faurecia CEO, Patrick Koller.

“This plan supports our competitiveness and will enable the creation of new activities and high value-added jobs in France. As such, Faurecia will be able to accelerate its transformation strategy focused on Sustainable Mobility and Cockpit of the Future and fully commit to its ambition of becoming CO2 neutral.”