1. Home
2. Supplier Database
3. Major Suppliers
4. Fawer Automotive Parts Limited Company
5. Fawer Automotive Parts Limited Company Business Report FY ended Dec. 2017

Fawer Automotive Parts Limited Company Business Report FY ended Dec. 2017

New Company

-On April 24, 2018, Fawer Automotive Parts Limited Company announced a plan to set up a joint venture with Dongfeng Motor Parts And Components Group Co., Ltd. The two companies are going to make a collective investment of Chinese yuan (CNY) 50 million. The name of the joint company is going to be Dongfeng Fawer Pump Co., Ltd. Its main products will be electrically-powered pumps for the automotive applications such as oil pumps and water pumps. It has a registered capital of CNY 50 million. Fawer Automotive Parts is going to invest CNY 35 million to own a 70% stake in the new company, while Dongfeng Motor Parts And Components will spend CNY 15 million to hold a 30% stake in the new company. (From a corporate announcement on May 2, 2018)

-On February 6, 2018, Fawer Automotive Parts Limited Company and Valeo Siemens Automotive ePowertrain Germany signed a memorandum of agreement on an establishment of a joint venture company. The new company is going to be set up in Changshu as a manufacturer inverter of new energy vehicle that uses Valeo Siemens' proprietary technology and intellectual properties. The company will be owned 50.5% by Fawer Automotive Parts and 49.5% by Valeo Siemens. (From a corporate announcement on February 9, 2018)

-On January 26, 2018, Fawer Automotive Parts Limited Company signed a contract with Hanon Systems Corporation on share transfer and creation of a new joint company. According to the deal, Hanon Systems is going to transfer 5% shares in their joint venture, Fawer Hanon Automotive Thermal System (Changchun) Co., Ltd., to Fawer Automotive Parts. It also says the two companies are going to set up a new joint electric compressor manufacturer named Fawer Hanon Automotive Component (Changchun) Co., Ltd. After the share transfer, Fawer Hanon Automotive Thermal System will be owned 55% by Fawer Automotive Parts and 45% by Hanon Systems. As for the new joint company, its registered capital will be CNY 150 million, paid 45% or CNY 67.50 million by Fawer Automotive Parts and 55% or CNY 82.50 million by Hanon Systems. The new joint venture is going to work on the development, production, and sales of variable capacity compressors, fixed capacity compressors, and electric compressors as well as their components. It also delivers exhaust heat management solutions and fluid delivery parts. (From a corporate announcement on January 26, 2018)

-The Company said on June 30, 2017, it signed a memorandum of understanding with NBTM New Materials Group Co., Ltd. on new investment in a new joint company tentatively named Changchun Tongmuo Fawer New Materials Co., Ltd. in Changchun, Jilin. The new company’s registered capital will be Chinese yuan (CNY) 28 million. It will be owned by 30% (CNY 8.4 million) by Fawer Automotive Parts and 70% (CNY 19.6 million) by NBTM New Materials Group. The joint company will supply sintered components, automotive components (excluding engines), home electrical appliances and new materials. (From a corporate announcement on June 29, 2017)

Strategic Cooperation

-Dongfeng Motor Parts And Components Group Co., Ltd. and the Company signed a strategic cooperation framework agreement on June 14, 2017, in Changchun, Jilin. The two companies will jointly develop technologies and share resources to expand their businesses. (From a press release on June 19, 2017)

Business Plan for Next Year

-In 2018, the Company plans to reach 8.1 billion operation profits.

Production Facilities

-The Company has 5 production facilities in Changchun, Tianjin, Shandong (Penglai and Qingdao), Chengdu, and Foshan.

R&D Facilities

-The Company owns Fawer Automotive Parts Co., Ltd.'s technology center. Its R&D center and ten subsidiary were named as "Provincial Enterprise Technology Center".

-The Company has R&D centers in several of its joint ventures, including Faw-Valeo Climate Control Systems Co., Ltd., FAW-Tokico Shock Absorber Co., Ltd., FAW-Koyo Steering Systems Co., Ltd. and has independant R&D ability.

-The Company has independently developed various key products, including body control modules (BCMs), machine controllers for new energy vehicles, battery management systems (BMSs), battery pack modules, and controllers for new energy vehicles.

-As of December 31, 2017, the number of individuals working in R&D was 905, or 13% of the workforce.