Faurecia eyes robust growth in auto sector
By Lv Nengneng |
July 5, 2013, Friday
|
Print Edition
Print Edition
FAURECIA, the world's sixth largest auto parts maker from France, opened its new tech center and China headquarters in Shanghai yesterday as it expects strong growth in the Chinese auto market to double its revenue by 2016.
Yann Delabriere, chairman and CEO of Faurecia, said the company is fully confident that China's car market will keep growing at 10 percent annually over the next five years.
He added Faurecia expects to double its China revenue to 3.3 billion euros (US$4.3 billion) by 2016 after tripling it to 1.5 billion euros between 2009 and 2012.
"The future growth phase of Faurecia in China will be increasingly oriented to developing technologies, solutions and products adapted to the local needs and regulatory requirements, and to build our business with Chinese automakers," Delabriere said.
The new facility will serve as the research and development hub for three of Faurecia's four key business units - automotive seating, interior systems and exterior systems.
The number of technicians and engineers for these three units in China will rise to 800 from 500. The tech center for the fourth unit, emissions control, is also located in Shanghai.
The company also expects domestic brands under joint ventures to account for 12 percent of its sales in China by 2016. Faurecia has formed ventures with Geely, Chang'an and Great Wall.
Yann Delabriere, chairman and CEO of Faurecia, said the company is fully confident that China's car market will keep growing at 10 percent annually over the next five years.
He added Faurecia expects to double its China revenue to 3.3 billion euros (US$4.3 billion) by 2016 after tripling it to 1.5 billion euros between 2009 and 2012.
"The future growth phase of Faurecia in China will be increasingly oriented to developing technologies, solutions and products adapted to the local needs and regulatory requirements, and to build our business with Chinese automakers," Delabriere said.
The new facility will serve as the research and development hub for three of Faurecia's four key business units - automotive seating, interior systems and exterior systems.
The number of technicians and engineers for these three units in China will rise to 800 from 500. The tech center for the fourth unit, emissions control, is also located in Shanghai.
The company also expects domestic brands under joint ventures to account for 12 percent of its sales in China by 2016. Faurecia has formed ventures with Geely, Chang'an and Great Wall.
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