Faurecia has unveiled a new joint-venture with Liuzhou Wuling Industry, to be known as Faurecia Liuzhou Automotive Interior.
The joint venture consolidated by Faurecia will develop and manufacture automotive interior products including instrument panels, centre consoles, door panels and acoustic products to SGMW affiliated OEM brands and other customers.
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Located in Liuzhou (Guangxi Zhuang Autonomous Region), the joint-venture targets annual sales of CNY1.3bn (US$196m) by 2022 from three plants.
The new JV follows the joint-venture agreement signed in July last year between Faurecia and Wuling Industry, covering seating.
"The joint-venture with Wuling Industry is a new step forward in Faurecia's strategy to establish robust and sustainable relationships with leading Chinese OEMs," said Faurecia CEO, Patrick Koller.
"It will contribute to our ongoing strong growth and enable Faurecia to expand its technology offer in China for Smart Life on Board."
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By GlobalDataEstablished in 2007, Liuzhou Wuling Industry is jointly owned by Guangxi Auto Group and Wuling Motor Holdings Limited, specialised in auto parts, engines, as well as auto design and manufacturing.
The company has facilities based in Liuzhou, Qingdao and Chongqing. Annual sales are more than CNY10bn.
