CHERY AND FORVIA DEEPEN STRATEGIC PARTNERSHIP WITH A FIRST JOINT VENTURE ON SMART AND SUSTAINABLE COCKPIT
12 Aprile 2024 - 8:49AM
CHERY AND FORVIA DEEPEN STRATEGIC PARTNERSHIP WITH A FIRST JOINT
VENTURE ON SMART AND SUSTAINABLE COCKPIT
NANTERRE (FRANCE)APRIL 12th,
2023
CHERY AND FORVIA DEEPEN STRATEGIC
PARTNERSHIP WITH A FIRST JOINT VENTURE ON SMART AND SUSTAINABLE
COCKPIT
On April 11, 2024, in Hefei (China), FORVIA, the
world’s seventh-largest automotive technology supplier, announced
that it has signed a Joint Venture Agreement with CHERY, a leading
Chinese automaker, to deepen mutual cooperation in the field of
smart and sustainable cockpit.
FORVIA and CHERY will establish a “Cockpit of
the Future” Joint Venture Company in Wuhu. 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.
It is the first Joint Venture of that kind in China and will be
consolidated by FORVIA with a sales ambition of € 1bn by 2029.
It will include an R&D center dedicated to
industrial design and cockpit integration capabilities, enabling
both FORVIA and CHERY to offer disruptive, sustainable and
competitive consumer experience.
The Joint Venture plans to launch two production
sites in H1 2024 to support CHERY fast growth.
YIN TONGYUE, Chairman of CHERY,
declared: “Electrification, intelligence, brand upward,
globalization and sustainability development, these are the next
strategic priorities for CHERY. 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."
Patrick KOLLER, CEO of FORVIA,
declared: “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. We aim to turn the vehicle cabin into a
truly intelligent space, meeting the scenario-based needs of
consumers through sustainable and innovative solutions to create a
safe, affordable, sustainable and customized mobility
experience.”
CHERY, a key strategic customer to
FORVIA’s commitment to ChinaChery is one of China's most
successful automakers, with production targets of around 3 million
by 2024 and over 5 million by 2026. With 11.7 million customers
worldwide, including 2.65 million outside China, Chery has been
China's leading vehicle exporter for 20 years.In September 2023,
FORVIA and CHERY signed a strategic cooperation framework agreement
to deepen all-round cooperation in the field of smart and
sustainable cockpit. The relationship between FORVIA and Chery is
now gathering pace, based on mutual trust and respect.
FORVIA, a strong presence in Asia and
ChinaFORVIA employs over 40,000 people across Asia. In
2023, the Group recorded sales of over €7.39 bn in this region of
the globe, i.e. 27% of FORVIA's total sales. The outlook for this
market is promising: Asia will soon produce 60% of global vehicle
volumes. After more than 30 years in China, FORVIA builds on its
long-term presence in the country to adapt its products to the
expectations of the market and is committed to supporting the
growth of its Chinese customers.
- CHERY AND FORVIA DEEPEN STRATEGIC PARTNERSHIP
Grafico Azioni Forvia (EU:FRVIA)
Storico
Da Nov 2024 a Dic 2024
Grafico Azioni Forvia (EU:FRVIA)
Storico
Da Dic 2023 a Dic 2024
