French component and technology major Faurecia and Chinese component manufacturer Liuzhou Wuling Automotive Industry have announced a new joint venture christened Faurecia (Liuzhou) Emissions Control Technologies.
The partners say the JV will further extend the bilateral cooperation towards ‘Clean Mobility’ activity, with the new company targeting annual sales of 600 million RMB (Rs 633 crore) by 2023.
The JV will cover all emissions control systems business of Wuling Industry, integrating four plants located in Liuzhou Liudong, Liuzhou Hexi, Chongqing and Qingdao. Through this joint venture, Faurecia and Wuling Industry will take up a comprehensive strategic cooperation in the area of automotive emissions control systems, leveraging resources from both sides to develop innovative clean mobility solutions starting from SAIC GM Wuling Automobile Company (the “SGMW”) and manufacturers which are subsidiaries controlled by SGMW in China.
Christophe Schmitt, executive vice-president, Faurecia Clean Mobility ,said, “We’re honored to partner once again with Wuling Industry, extending our cooperation to all the three of our business activities: Seating, Interiors and Clean Mobility. The new joint venture will achieve synergy effects and further help enhance our relationships with leading Chinese OEMs. It will enable us to develop more innovative products and technologies responding to the demands of the China market towards zero-emission mobility.”
In 2017, Faurecia and Wuling Industry established joint ventures for automotive seating and interiors businesses.
Liuzhou Wuling Industry has it expertise in automotive design and manufacturing areas, focusing on parts, engines and special vehicle business. The company has business in Guangxi, Chongqing, Shandong and Guizhou in China as well as in Indonesia and India.