SHANGHAI – Faurecia and Liuzhou Wuling Industry Co., Ltd. signed an agreement here on November 29 to establish a new joint venture named Faurecia Liuzhou Automotive Interior Co., Ltd.
The agreement was signed on the sidelines of the inauguration of Faurecia Clean Mobility’s new China and Asia Pacific R&D Center, and follows the agreement signed between the two partners in July to establish a automotive seating JV.
The interiors JV will develop and manufacture products including instrument panels, center consoles, door panels and acoustic products to SAIC-GM-Wuling affiliated OEM brands and other customers. Located in Liuzhou, Guangxi Zhuang Autonomous Region, where SAIC-GM-Wuling is based, the JV targets annual sales of ¥1.3 billion by 2022 from three plants.
“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 Patrick Koller, CEO of Faurecia Group. “It will contribute to our ongoing strong growth and enable Faurecia to expand its technology offer in China for Smart Life on Board.”
Established in 2007, Wuling Industry is jointly owned by Guangxi Auto Group Co., Ltd. and Wuling Motor Holdings Ltd., specialized in auto parts, engines and specialty auto design & manufacturing. Its business covers both auto parts and OEM manufacturing with facilities based in Liuzhou, Qingdao and Chongqing. Annual sales are over ¥10 billion.