Forvia is forming a joint venture with Chinese carmaker Chery

The joint venture, which will have two production sites and an R&D center in Wuhu, China, will be dedicated to intelligent and sustainable cockpits.

It is already connected to the agreement of the strategic cooperation framework signed in September 2023 in the field of intelligent and sustainable cockpits, Prohibit itthe seventh largest car supplier in the world, and CherryChina’s leading automobile manufacturer, today expands its partnership with the creation of the “Cockpit of The Future” joint venture in Wuhu, China.

This joint venture will have the mission to design, develop, manufacture and distribute all systems and modules related to the interior of the vehicle, including seats, interiors and cockpit electronics, using low-cost materials and processes. of CO2.

According to the two partners, this is the first joint venture of this kind in China. It will have two production sites, which are expected to be launched in the first half of 2024, as well as an R&D center dedicated to the industrial design and integration capabilities of the faucet. The goal is to reach $1 billion in annual revenue by 2029.

With 11.7 million customers worldwide, including 2.65 million outside China, Chery has positioned itself as China’s leading car exporter for 20 years. The group has set production targets of around 3 million vehicles this year and more than 5 million by 2026.

On the other hand, Forvia is very present in Asia. The car dealer employs more than 40,000 people there and will generate 27% of its annual sales in 2023, or more than €7.39 billion in sales. The group has been present in China for more than 30 years.

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