BORGWARD forms joint venture with Faurecia
Stuttgart/Paris – Borgward is strengthening its strategic network and has teamed up with the well-respected French automotive supplier company Faurecia to form a joint venture for the development and production of car seats and interior components. “We are proud to intensify our cooperation with Faurecia, one of the world’s most successful and innovative automotive suppliers,” said Ulrich Walker, CEO of Borgward Group AG, after signing ceremony in Paris on Tuesday.
Borgward Group AG holds 46 percent of joint venture Borgward Faurecia Auto Systems Co., Ltd. while Borgward Automotive (China) Co., Ltd. holds three percent and Faurecia 51 percent. The joint venture will initially produce the seats for the new Borgward BX5 and other models in China and later on intends to supply seats to Borgward for its vehicles to be assembled in Europe.