The newly formed joint venture company will be located in Xiangyang, Hubei Province, and plans to start production in 2018. The joint venture company expects sales to reach 1.2 billion yuan in 2021. Mr. Patrick Koller, CEO of Faurecia Group, said: “We are very honored to be able to cooperate with Dongfeng Motor Co., Ltd. to extend our business to Green Motion Zhixing Systems, bringing innovative and breakthrough technology products to the Chinese market. The establishment of the second joint venture further deepens the important cooperation between Foglia and Dongfeng Motor Corporation over the past few years and will also help the Group's strong business growth in China." Dongfeng Auto Parts & Components (Group) Co., Ltd. is a leading auto parts manufacturer in China. With its innovative and sophisticated products and systematic solutions, Dongfeng Auto Parts (Group) Co., Ltd. has won recognition from both domestic and overseas markets. The core business of Dongfeng Components Group includes power transmission systems, trim systems, steering systems, suspension systems, brake systems, instrumentation and body electronic control systems, engine intake and exhaust systems and wheels, fasteners, etc., with its systems. It is well-known in the industry for its high level of modularity, electronics, and professionalism. Headquartered in Shiyan City, Hubei Province, Dongfeng Components Group has a registered capital of 2.23 billion yuan, with 16,800 employees and 32 subsidiary companies, including a listed company, Dongfeng Electronic Technology Co., Ltd. (stock code: 600081). Dongfeng Components Group's main business revenue in 2016 reached 12 billion yuan. Hand Saw,Metal Saw,Foldable Saw,Wood Cutting Saw NINGBO LUBAN ELECTRIC POWER TOOLS CO.,LTD. , http://www.aye-group.com
Automobile Parts Supplier Faurecia Announces Agreement with Dongfeng Auto Parts (Group) Co., Ltd. in Wuhan
Faurecia and Dongfeng Motor jointly set up a new solution to solve the problem
On July 4, 2017, Wuhan, China, the world’s leading supplier of automotive parts and components , Faurecia announced in Wuhan that it had signed an agreement with Dongfeng Automotive Components (Group) Co., Ltd. to establish a joint venture company to jointly develop green motion Zhixing business. The joint venture aims to provide Dongfeng's passenger car and commercial vehicle brands with advanced green motion system solutions. The establishment of the joint venture company further deepened the long-term cooperation between Foglia and Dongfeng Motor Corporation. It was an extension of the automotive interior systems business jointly founded by both parties.