Faurecia: Joint-Venture with Chang’an Automobile Group
Faurecia, a French automotive equipment supplier, and Chinese automobile manufacturer Chang’an Automobile Group, signed an agreement for the establishment of a new 50/50 joint-venture, CSM Faurecia Automotive Systems Company Ltd for automotive interiors.
The new joint-venture has a total planned investment in excess of EUR 35 million (CNY 293 million), which will be contributed equally by both shareholders and will cover the new industrial sites, equipment and process, design and development as well as tooling costs. The joint-venture will focus on the development, manufacturing and delivery of automotive interior equipment, including: instrument panels, door panels, center consoles and cockpit modules.
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