Shanghai – Car component maker Faurecia has estimated its sales will reach EUR2.3bn by the end of this year.
The group is planning to grow twice as fast as the market and reach total sales over EUR4bn by 2018, it said in a press release following an Investors Day event earlier this month.
Faurecia already has a joint venture with China’s Chang’an Automobile Group for the production of automotive interiors, as utech-polyurethane.com reported previously.
Faurecia China now has 38 manufacturing facilities and four fully-owned R&D centres with 800 engineers.
Over the next five years the group plans to invest EUR400m in China. Its strategy includes an additional 15 manufacturing facilities and an increase in its number of R&D engineers by one third.