Joint Venture Agreement Signed Between Faurecia China and Guangzhou Farwon Semiconductor Technology Co., Ltd.
Shanghai (Gasgoo)- Faurecia China and Guangzhou Farwon Semiconductor Technology Co., Ltd. (“Guangzhou Farwon”), a subsidiary of GAC Components Co., Ltd., have officially signed a joint venture agreement in Guangzhou, marking a significant milestone in their partnership. This collaboration aims to leverage their combined strengths in capital, technology, talent, and market channels to drive innovation in the automotive industry.
Over the years, the two companies have established a strong foundation of trust through close collaboration. By forming this joint venture, they seek to enhance their capabilities in developing new technologies and products, enabling them to remain competitive in the rapidly evolving automotive market.
Photo credit: Faurecia China
Stéphane Noël, Executive Vice President of FORVIA’s Seating Business Group, emphasized the company’s long-standing presence in China and its dedication to fostering local partnerships. He expressed optimism about the joint venture’s potential to drive innovation in automotive seat motor systems and expand into global markets, ultimately shaping the future of smart mobility.
FORVIA’s 2024 performance report underscores the significance of the Chinese market in driving the group’s growth, with substantial sales and profit contributions from the region. The company continues to strengthen its relationships with Chinese automakers, with strategic collaborations such as the joint venture with BYD facilitating global expansion and market penetration.
In addition to its partnerships in China, FORVIA is actively pursuing opportunities in overseas projects, demonstrating the growing importance of collaboration between Chinese automakers and international suppliers. The establishment of production bases in Europe and upcoming ventures in Turkey highlight the company’s commitment to fostering global partnerships for mutual success.
