FORVIA AND BYD EXPAND STRATEGIC PARTNERSHIP TO EUROPE THROUGH FUTURE COOPERATION IN HUNGARY

FORVIA and the Chinese automaker BYD will expand their partnership into Europe. Building on their successful collaboration in Asia, the two companies will now operate together in Hungary, where FORVIA will spearhead the launch of BYD's first footprint in the region.

This announcement follows the recent inauguration of a seat assembly plant in Thailand, further consolidating the partnership that began in 2017 with the establishment of the joint venture Faurecia Automotive Parts Co., majority-owned by FORVIA.

Over the past seven years, this partnership has fostered extensive cooperation, leading to the opening of seven plants across China and the development of a dedicated R&D center in Shenzhen.

According to BYD, the brand will enter the club of 10 million vehicle makers, the globalization is its next step’s key priority. The globalization strategy can’t be conducted without a global supply chain, FORVIA will play an irreplaceable role on it. This is the main motivation for BYD to raise recently its established strategic cooperation, the BYD Hungary project will be led by FORVIA to ensure the smooth project launching.