Faurecia inks JV pact with Beijing WKW Automotive Parts

Faurecia, which ranks among world’s leading automotive equipment suppliers, and Beijing WKW Automotive Parts Co Ltd, one of China’s leading interior and exterior trim systems manufacturers, signed have signed a 50/50 joint-venture agreement to create an entity named Beijing WKW-FAD Automotive Interior Parts Co. Ltd. (BWKWFAD). Together, the partners will be leading the Chinese market and building synergies in automotive interior aluminum decoration parts for passenger vehicles.

Beijing WKW Automotive Parts is a leader in passenger car interior and exterior aluminium trim systems. The Beijing-based company has a broad-range product portfolio covering upper-market segment passenger vehicles. With total planned investment of 14 million euros, BWKWFAD will specialise in interior aluminium decoration parts for the Asian market, covering development, manufacturing, assembly and marketing. Besides, the company will also provide aftersales services and technical consulting.

“As a the global leader in vehicle interior decoration, Faurecia is reinforcing its market presence globally, building on the strong foothold of Beijing WKW in China’s automotive aluminium decoration market. Beyond China, we are confident that our alliance will enable us to further develop our business with our Asian customers,” said Jean-Michel Vallin, president of Faurecia China.

“This new joint-venture will enhance Beijing WKW’s current operations as well as play a key role in developing a stronger presence in China. The joint venture will help bring together the best of both companies' expertise in vehicle interior decoration to deliver highest quality products and better serve automakers in China,” stated Li Jingyu, president of Beijing WKW.