joint venture agreement with Chery in China

(CercleFinance.com) – Forvia announces that it has signed a joint venture agreement with Chery, one of China’s leading car manufacturers, to strengthen their strategic partnership in the field of intelligent and sustainable drones.

They will establish a joint venture to design, develop, manufacture and supply cabin-related systems and modules, including seats, interiors and cockpit electronics, using low-carbon materials and processes.

The first joint venture of its kind, ‘Cockpit of the future’ based in Hefei (Anhui province in China) will be linked with a French automotive supplier, with the expectation of one billion euro sales by 2029.

A dedicated development center for industrial design and cockpit assembly capabilities will be built. The joint venture also plans to launch two production sites in the first half of 2024.

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