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Faurecia and BAIC establish JV in China for car seating business
Source:Adsale Plastics Network    Editor:JK    Date:13.Aug.2020

Faurecia, one of the world leading automotive technology companies, and BAIC, one of China’s largest automotive manufacturers, have announced the establishment of a new 50-50 joint venture in China.

 

This partnership will be created through Faurecia’s purchase of the 50% shareholding of Beijing BAI DAS Automotive System Co., Ltd. from DAS Corporation. The transaction will be completed once regulatory approvals are obtained in China.


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The new joint venture between BAIC and Faurecia will focus on seating business.


The new joint venture between BAIC and Faurecia will provide complete seat assembly, seat frames, foams and headrests initially for BAIC Hyundai and BAIC- owned brands. Headquartered in Beijing, the joint venture has 500 employees and 4 plants in Beijing, Chongqing, Huanghua and Xiangtan.

 

“The joint venture represents a great opportunity for Faurecia to strengthen its partnership with BAIC in China, and Hyundai-Kia globally and will support our profitable growth strategy in China,” Eelco Spoelder, Faurecia Seating EVP said.

 

“Our new joint venture will deepen the cooperation between BAIC and Faurecia and will create synergies, while at the same time, strengthening and accelerating international cooperation and strategic implementation for both partners,” Wang Jianhui, BoD Secretary and Investment & Planning Responsible of BAIC Motor said.

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