Forvia benefits from its joint venture agreement with Chinese manufacturer Cher

(AOF) – Forvia (+0.24% to 14.81 euros) announced a joint venture agreement with Chery, one of China’s leading car manufacturers, to strengthen their cooperation in the field of “smart and sustainable” cockpits”. The two companies will establish a joint venture of “Cockpit of the Future” in Hefei, China. It will aim to design, develop, manufacture and supply all cabin-related systems and modules, including seats, interiors and cockpit electronics, using low-cost materials and processes. of CO2.

The first joint venture of its kind, will be joined by Forvia, with an expectation of 1 billion euros in sales by 2029.

The joint venture agreement provides for the creation of a development center dedicated to industrial innovation and cockpit assembly capabilities, which will be built in China.

Forvia’s joint venture with Chery also plans to launch two production sites in the first half of 2024 to support the Chinese group’s rapid growth.
This is not Forvia’s first investment in China this year: the equipment manufacturer announced at the end of February a memorandum of understanding with Faw Jiefang, one of the main manufacturers of heavy goods vehicles in China, aimed at enabling heavy goods vehicles with hydrogen storage liquid. systems.
According to agency information published this week, Chery is on the verge of concluding an agreement to create its first European production site in Spain.

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