The joint venture will design, develop, manufacture and supply all cabin-related systems and modules, including seats, interiors and cockpit electronics, using low-CO2 materials and processes. Forvia has targeted billion euros in revenue by 2029.
17 Apr 2024 | 2446 Views | By Autocar Professional Bureau
Forvia, the world's seventh-largest automotive technology provider, has signed a joint venture agreement with Chery, one of China's leading automakers, to deepen strategic cooperation in the field of smart and sustainable cockpits.
The two companies will establish a ‘Cockpit of the Future’ joint venture in Hefei, China. The joint ...
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Forvia, the world's seventh-largest automotive technology provider, has signed a joint venture agreement with Chery, one of China's leading automakers, to deepen strategic cooperation in the field of smart and sustainable cockpits.
The two companies will establish a ‘Cockpit of the Future’ joint venture in Hefei, China. The joint venture will design, develop, manufacture and supply all cabin-related systems and modules, including seats, interiors and cockpit electronics, using low-CO2 materials and processes. The first joint venture of its kind, it will be consolidated by Forvia with a goal of achieving of a billion euros in revenue by 2029.
As part of this joint venture, a development centre dedicated to industrial design and cockpit integration capabilities will be set up. The JV also plans to launch two production sites in the first half of 2024 to support Chery's growth.
“Electrification, intelligence, brand empowerment, globalization and sustainability are Chery’s next strategic priorities. Forvia is a leading global supplier of automotive technology, and both parties have a vast cooperation space in the field of smart cockpit and low-CO2 materials, as well as a wide range of complementarities and cooperation opportunities in the overseas market,” said Yin Tongyue, president of Chery.
“The automotive industry is currently undergoing a technological revolution and the demand for smart and sustainable cockpits is increasing. To stay ahead of this competitive market, we are pleased to deepen our collaboration with Chery, a key partner at the cutting edge of technology. Our goal is to make the vehicle interior a truly smart space, meeting the needs of consumers, through sustainable and innovative solutions to create a safe, affordable, sustainable and personalized mobility experience,” said Patrick Koller, managing director of Forvia.
Image: Forvia