Faurecia aims to sell US$4b in auto parts by 2016
By Lilith Hu |
April 24, 2013, Wednesday
|
Print Edition
Print Edition
FAURECIA, the world's sixth-biggest auto parts supplier, aims to double its sales in China by 2016 after they surged 25 percent to 1.5 billion euros (US$2 billion) in 2012.
Last year's jump in sales was a sharp improvement from the 8-percent growth in 2011, the French manufacturer said at Auto Shanghai 2013 over the weekend. China now accounts for 80 percent of the group's business in Asia.
"The dynamic Chinese automotive market, the world's largest, favors the rapid development of our business," said Yann Delabriere, chairman and chief executive officer of Faurecia.
Vehicle production in China may rise from 16 to 25 million units between 2012 and 2016, Faurecia said.
The company plans to add 20 plants nationwide to bring the total number to 55 by 2016. It will also employ 1,200 engineers in China by then, twice the number now. Its research center in Shanghai is the major incubator for emission control technology for the group.
Delabriere said there are growth prospects as technological change for lighter, more fuel efficient, more connected and more comfortable vehicles accelerates.
Group revenue climbed to 4.37 billion euros in the first three months of the year from 4.3 billion euros a year ago, Faurecia said yesterday.
Last year's jump in sales was a sharp improvement from the 8-percent growth in 2011, the French manufacturer said at Auto Shanghai 2013 over the weekend. China now accounts for 80 percent of the group's business in Asia.
"The dynamic Chinese automotive market, the world's largest, favors the rapid development of our business," said Yann Delabriere, chairman and chief executive officer of Faurecia.
Vehicle production in China may rise from 16 to 25 million units between 2012 and 2016, Faurecia said.
The company plans to add 20 plants nationwide to bring the total number to 55 by 2016. It will also employ 1,200 engineers in China by then, twice the number now. Its research center in Shanghai is the major incubator for emission control technology for the group.
Delabriere said there are growth prospects as technological change for lighter, more fuel efficient, more connected and more comfortable vehicles accelerates.
Group revenue climbed to 4.37 billion euros in the first three months of the year from 4.3 billion euros a year ago, Faurecia said yesterday.
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