Forvia, and Chery, have entered into a joint venture agreement to expand their strategic collaboration in the area of intelligent and sustainable cockpits.
A joint venture named “Cockpit of the Future” will be established by the two businesses in Hefei, China. Using low-CO2 materials and procedures, the joint venture will design, develop, produce, and supply all cabin-related systems and modules, such as seats, interiors, and cockpit electronics. Forvia will consolidate the first joint venture of its sort, aiming to generate one billion euros in income by 2029.
A development facility specialising in industrial design and cockpit integration skills will be established as part of this joint venture. To aid Chery’s expansion, the JV also intends to build two production facilities in the first half of 2024.
“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.
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