Faurecia, a French manufacturer of components and technologies, and China’s Liuzhou Wuling Automotive Industry has declared the commencement of a new joint venture called Faurecia Emission Control Technology.
According to the partners, the joint venture will expand bilateral collaboration with the “clean mobility” activity, with the new company expected to achieve an annual turnover of RMB 600 Million by 2023.
The joint venture will include all activities related to Wuling Industry’s emission control systems, with four factories integrated with Liuzhou Liudong, Qingdao, Liuzhou Hexi, and Chongqing. As part of this joint venture, Faurecia and Wuling Industry will establish a global strategic corporation in automotive emission control systems, mobilizing resources from both sides to build up innovative clean mobility solutions from manufacturers controlled by SGMW in China.
Christophe Schmitt, Executive Vice President of Faurecia Clean Mobility, said, “We are privileged to work jointly again with Wuling Industry and expand our cooperation to our three activities; clean mobility, seating, and interiors. The new joint venture will create synergies to help strengthen our relationship with leading Chinese OEMs, enabling us to develop more innovative products and technologies that meet the requirements of the Chinese emissions trading market.”
Liuzhou Wuling Industry has proficiency in automotive design and manufacturing, with an emphasis on parts, engines, and special vehicles. The company is active in the provinces of Guangxi, Shandong, Chongqing, and Guizhou, as well as in Indonesia and India.
In the previous year, Wuling and Faurecia had also got into the collaboration to focus on automotive interiors and seating business. With the joint venture, Faurecia expects Rs 1,800 Crore revenue by 2022. The joint venture for seats and interiors is based in Liuzhou, Guangzhou and will be responsible for the manufacturing of complete sets of seats and frames.