1. Home
2. Supplier Database
3. Major Suppliers
4. Visteon Group (China)
5. Visteon Group (China) Business Report FY ended Dec. 2015

Visteon Group (China) Business Report FY ended Dec. 2015

Strategic Alliance

-Yanfeng Visteon Electronics Technology (Shanghai) Co., Ltd. and NavInfo have signed a basic agreement to form a strategic alliance in the areas of Advanced Driver Assistance Systems (ADAS), in-car Internet, telamatics, and navigation solutions. NavInfo is aiming to offer major service engines through the collaboration, especially on ADAS technologies, navigation engines, driver-less car technology, navigation data standard, digital forms, and detailed map information. It will also provide telamatics solutions like WeLink. (From an announcement by the company on July 7, 2016)

Acqusition

-Yanfeng Automotive Trim Systems Co., Ltd., a subsidiary of HUAYU Automotive Systems Company Limited, has indicated its intention to sell its 49% stake in Yanfeng Visteon Automotive Electronics Co., Ltd. for CNY 796.94 million. No buyer is disclosed at present. Yanfeng Visteon Automotive Electronics is capitalized at USD 24.12 million, mainly producing and selling automotive electronic parts and instrumental panels. Presently, Yanfeng Automotive Trim Systems owns 49% and Visteon owns 51% of Yanfeng Visteon Automotive Electronics. Visteon uses its pre-emption right to shares of Yanfeng Visteon Automotive Electronics. (From news releases issued by multiple sources on August 6, 2014)

-Changchun Faway Automobile Components Co., Ltd. announced that Johnson Controls Asia Holdings Co., Ltd., its joint-venture partner, will transfer the entire 50 percent share it holds in Changchun FAWAY Johnson Controls Automotive Electronics Co., Ltd. to Visteon Global Electronic, Inc. When the transaction is completed, Changchun FAWAY Johnson Controls Automotive Electronics will be owned 50 percent each by Changchun Faway and the Visteon Group. (From an announcement by the company on June 13, 2014)

Contract

-Chongqing Xugang Electronic Co., Ltd., a subsidiary of Yanfeng Visteon Automotive Electronics Co., Ltd., announced that it will supply in-vehicle display units for Changan Automobile's new model. The name of the vehicle has not been announced yet. The company sees this business as one of the most important projects following the CD player program it won for the Changan E301 in 2011. (From a press release on October 9, 2014)

Divestiture

-Visteon Group announced that it has entered into an agreement with Huayu Automotive Systems Co., Ltd. (HASCO) to sell its 50 percent stake in Chinese joint venture Yanfeng Visteon Automotive Trim Systems Co., Ltd. (YFV), as well as its direct interests in other related interiors joint ventures, to HASCO. Additionally, Visteon and HASCO agreed to modify their existing electronics ventures in China such that Visteon will obtain control of the majority of Yanfeng Visteon Automotive Electronics Co., Ltd. (YFVE). The transactions are expected to be completed by June 2015. Visteon will receive cash payments of approximately USD 1.25 billion for the sale of its interests in YFV and other related interiors joint ventures, and will pay approximately USD 70 million to gain control of the majority of YFVE. The Company announced that it acquired a remaining 50 percent share in Yanfeng Visteon Automotive Trim Systems Co., Ltd. at the end of December 2013. As a result, HUAYU Automotive Systems has turned the joint venture with Visteon into its wholly owned subsidiary, and changed the subsidiary’s name to Yanfeng Automotive Trim Systems Co., Ltd. (From a press release on January 7, 2014)

R&D facility