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R&D hub to help lift business
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FRENCH auto-parts maker Faurecia expects to grow its business further in China as it opened a research and development center in Shanghai yesterday.
“The research and development center represents our determination and goal to achieve further growth of business in the China market,” said Patrick Koller, CEO of Faurecia.
“Faurecia expects our sales in China will grow from 18 billion yuan (US$ 2.7 billion) this year to 34 billion yuan in 2020. In 2022, the company hopes to achieve 40 billion yuan in sales in China. In 2020, more than 40 percent of our sales in China will be made with Chinese original equipment manufacturers.”
He said Faurecia is going to add 19 plants in China until 2020, or at a rate of one new plant every two months. The plants will include those built by Faurecia, others built through joint ventures and expansion of current facilities.
The R&D center will also research and develop clean mobility technologies including emissions control and energy heat recovery.
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