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Faurecia sets up China headquarters in Shanghai
By Lv Nengneng |
July 4, 2013, Thursday
|
Online Edition
Online Edition
FAURECIA, the world's sixth largest auto parts maker in France, opened its new R&D center and China headquarters in Shanghai today to double its China revenue by 2016.
The new facility will serve as the research and development hub for the company's automotive seating, interior system and exterior system units. It will increase Faurecia's Chinese staff from 500 to 800.
The tech center for the fourth division, emissions control, is also located in Shanghai.
Yann Delabriere, chairman and CEO of Faurecia, said the company is fully confident that China's car market will keep forging ahead at an annual rate of 10 percent over the next five years and the company is geared up to double its China revenue to 3.3 billion euro by 2016 after tripling it to 1.5 billion euro 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.
Joint-venture carmakers will continue to bolster Faurecia's customer base, but domestic brands are expected to drive its business as well, representing 12 percent of its China sales by 2016. They include Geely, Chang'an and Great Wall.
The new facility will serve as the research and development hub for the company's automotive seating, interior system and exterior system units. It will increase Faurecia's Chinese staff from 500 to 800.
The tech center for the fourth division, emissions control, is also located in Shanghai.
Yann Delabriere, chairman and CEO of Faurecia, said the company is fully confident that China's car market will keep forging ahead at an annual rate of 10 percent over the next five years and the company is geared up to double its China revenue to 3.3 billion euro by 2016 after tripling it to 1.5 billion euro 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.
Joint-venture carmakers will continue to bolster Faurecia's customer base, but domestic brands are expected to drive its business as well, representing 12 percent of its China sales by 2016. They include Geely, Chang'an and Great Wall.
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