Lear Corporation has formed its sixth Chinese joint venture: Nanjing Lear Xindi Automotive Interiors System (Lear Xindi) with the Xindi subsidiary of Nanjing-based Yuejin Motor Group Corporation.
The joint venture, to be located in Nanjing, will supply seat systems and wire harnesses for Chinese-built Fiat, Iveco and Yuejin vehicles. Lear Xindi is expected to generate initial annual sales of $US40 million.
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Last year, Lear won a major contract from Ford-Changan to supply seats, interior trim and wire harnesses for the Fiesta-based Ikon, to be launched in January 2003. Lear Changan in Chongqing, a joint venture with the Changan Group, will supply seats and interior trim. Lear – DCAC in Wuhan, a joint venture with Dongfeng Citroen Automobile Co., Ltd. (DCAC), will supply wire harnesses.
Sales by the six Lear joint ventures are expected to exceed $150 million annually by next year.
Lear first established operations in China in 1994 through Lear – DCAC.
