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Home > News > Automotive

FORVIA and Chery to set up JV targeting €1 billion in sales

Source：Adsale Plastics Network Date ：2024-06-03 Editor ：VC

Copyright： This article was originally written/edited by Adsale Plastics Network (AdsaleCPRJ.com), republishing and excerpting are not allowed without permission. For any copyright infringement, we will pursue legal liability in accordance with the law.

FORVIA and CHERY, a leading Chinese automaker, will set up a “Cockpit of the Future” Joint Venture Company in Wuhu, China. It is the first Joint Venture of that kind in China and will be consolidated by FORVIA with a sales ambition of €1 billion by 2029.

This Joint Venture targets to design, develop, manufacture and supply the full cabin scope related systems and modules including seats, interiors and cockpit electronics with low CO2 emission materials and processes.

A dedicated R&D center will be established for increasing industrial design and cockpit integration capabilities, enabling both FORVIA and CHERY to offer disruptive, sustainable and competitive consumer experience.

The JV aims to turn the vehicle cabin into a truly intelligent space, meeting the scenario-based needs of consumers.

Patrick KOLLER, CEO of FORVIA, said: “The automotive industry is currently experiencing a technological revolution and smart sustainable cockpit demand is increasing. To stay ahead in this competitive market, we are pleased to further deepen our collaboration with CHERY, a key technology-driven partner.”

YIN TONGYUE, Chairman of CHERY, said: “FORVIA is a leading global automotive technology supplier, and the two parties have a broad space for cooperation in the field of intelligent cockpit and low CO2 emission materials, as well as a wide range of complementarities and cooperation opportunities in the overseas market."

The Joint Venture plans to launch two production sites in H1 2024 to support CHERY fast growth.