Faurecia (China) Holding Co., Ltd. Business Report FY ended Dec. 2024

Financial Overview

(EUR millions)

	FY ended Dec. 31, 2023	FY ended Dec. 31, 2022	Change（%）
Sales (in China)	5,850.8	5,282.5	10.76

-In 2023, Faurecia's sales in Asia reached EUR 7.39 billion (accounting for 27.1% of total sales), of which China's annual sales reached EUR 5.851 billion euros, an increase of 10.76% over 2022.

New companies

-Forvia Hella, a Forvia subsidiary, established a new company named Hella (Nanjing) Electronics Co., Ltd. (HNE) in Nanjing to fulfill the increasing demand of the Chinese market for high-quality auto electronic elements. Initially focusing on energy management products, HNE has won orders from new customers and plans to officially put high-voltage current sensors into production in April 2024 and introduce all Forvia Hella auto electronics production lines in the future. Located adjacent to the Hella Nanjing R&D Center, the new company currently has a workforce of 20 professional employees, which is expected to be expanded to 80 in the future. The overall investment amounts to tens of millions of CNY. In China, the Forvia Hella Electronics Division has so far established six locations (including joint ventures), among which four are R&D centers. The workforce totals around 2,400 people, with around 700 working on R&D. (From a Forvia press release dated March 13, 2024)

-Faurecia SE announced the official opening of Faurecia (Shanghai) Hydrogen Solutions Holding Co., Ltd., a new hydrogen energy business entity. The new company has a workforce of around 35 employees and a hydrogen storage system assembly line with an annual capacity of 1,000 sets. The opening of the company aims at expanding Faurecia SE’s hydrogen energy business in China, promoting the R&D and manufacturing of its cutting-edge hydrogen storage system product portfolio, and strengthening cooperation with the upstream and downstream of China’s hydrogen energy industrial chain. (From a Faurecia SE press release dated February 2, 2024)

Factory construction

-FORVIA announced the completion and commissioning of a full automotive electronics in·dustrial chain project in Fengcheng, Jiangxi, followed by the official commissioning of the Faurecia Clarion Electronics Fengcheng Mega Plant. Covering a total area of 30,000 square meters, and housing 1,200 employees, the plant mainly manufactures products in the three areas of display technologies, cockpit electronics, and autonomous driving. The annual production volume is 2 million units, meeting local and global automakers’ demand. (From a FORVIA press release dated November 10, 2023)

-FORVIA announced that it built a new seat assembly plant with BYD in Rayong, Thailand, which will produce complete sets of seats under the name of Shenzhen Faurecia Automotive Parts Co., Ltd. Previously, Forvia achieved an annual production of 2.6 million seats in cooperation with BYD and established an R&D center in Shenzhen. (From a Forvia press release dated July 24, 2023)

Strategic Cooperation

-Faurecia (China) Holding Co., Ltd., a Forvia subsidiary, on behalf of Materi’Act, signed a memorandum of cooperation with Zhuhai Gree Green Renewable Resources Co., Ltd., a Gree Electric subsidiary. The two parties will establish a joint venture by the end of 2024 to jointly develop, manufacture, and sell recycled plastics. They will be committed to developing first-class sustainable material products, with a 2030 sales target of 150,000 tons of compounds. These products will be applied in industries such as automobiles and household appliances. In addition to a partnership for materials, Forvia and Gree Electric will discuss in depth opportunities for cooperation in other areas. (From a Faurecia press release dated April 11, 2024)

-Faurecia announced the signing of an investment agreement with the Anting Town Government of Jiading District of Shanghai Municipality on July 17. Through Faurecia (Shanghai) Hydrogen Investment Co., Ltd., a Faurecia subsidiary, the two parties will strengthen government-enterprise linkage, promote comprehensive cooperation and communication in the hydrogen energy field, and support the industrialization of hydrogen energy in China. In addition, the Faurecia Hydrogen Energy Division signed a foreign-funded project with the Jiading District Government on July 18, aiming to promote the development of the local hydrogen energy industry. Faurecia will develop and produce all specifications of hydrogen storage cylinders and design and assemble all types of hydrogen storage systems to help the whole society gradually realize carbon peaking and carbon neutrality. (From a Faurecia press release dated July 20, 2023)

Technology Innovation

-The company announced the launch of a mass production solution to the eMirror. The eMirror uses a camera to obtain information about the environment behind the vehicle, perceive road conditions and provide an improved better view while enhancing improving safety in virtue of intelligent driving algorithms. It also features AI algorithms to ensure that the driver is promptly alerted when the camera is dirty or obscured. It is reported that Faurecia’s eMirror products have now passed E-Mark and UN ECE-R46 standard tests. (From a Faurecia official WeChat account press release dated January 17, 2023)

R&D Center

Location	Year established	Name	Business scope
Chongqing	2020	Faurecia Clarion Electronics Chongqing R&D Headquarters	Responsible for the R&D of onboard electronic products supplied to automakers and provides after-sale and technical consulting services
Changchun, Jilin	2013	Changchun Faurecia Xuyang Automotive Components Technology Co., Ltd.	Design and development of automotive seats and interior products
Shanghai	2011	Faurecia Clean Mobility R&D center Formerly: Faurecia Emission Control Technology R&D center（FECT）	Development of emission control systems for passenger cars and commercial vehicles
Shanghai	2005	Faurecia R&D center	Headquarters and Tech Center
Wuxi, Jiangsu	2004	Faurecia (Wuxi) Seating Components Co., Ltd.	R&D and production of seats

Exhibitions

-Faurecia announced its participation in FCVC 2023 held from July 5 to 7 in Shanghai with hydrogen storage technologies and products. At the event, the company exhibited multiple hydrogen storage cylinders, such as the III-type 385L 35MPa high-capacity hydrogen storage cylinder for heavy-duty trucks. The company also exhibited a hydrogen storage system for heavy-duty trucks, which allows for the storage of up to 80kg of gaseous hydrogen. The fast hydrogen refueling capability that takes an operation time of less than 15 minutes and the 15-year long service life of the system bring a more convenient usage experience and lower maintenance costs. (From a Faurecia press release dated July 7, 2023)

-FORVIA announced that at the 20th Shanghai International Automobile Industry Exhibition (Auto Shanghai 2023), it will showcase the combined technologies of Faurecia and HELLA, as well as the latest solutions in the following three areas: electrification and energy management, safety and automated driving, and digitalization and personalized experiences in sustainable cockpits. (From a press release dated February 28, 2023)