Faurecia, BYD’s joint venture builds new subsidiary in Xi’an

Shanghai (Gasgoo)- Shenzhen Faurecia Auto Parts Co., Ltd., (“Shenzhen Faurecia”), a joint venture between Chinese automaker BYD and the global auto parts supplier Faurecia, recently set up a new subsidiary in Xi'an, the capital of Shaanxi province.

Photo credit: Faurecia

According to the corporate database Tianyancha, the newborn company, named Xi’an Faurecia Auto Parts Co., Ltd. (“Xi’an Faurecia”), was incorporated on March 14. It involves a registered capital of 50 million yuan ($7.863 million) and is wholly held by Shenzhen Faurecia.

The information from Tianyancha shows that Xi’an Faurecia features a business scope that covers the manufacturing of auto parts and automobile ornaments, and the wholesale of auto parts.

Founded in February 2018, Shenzhen Faurecia is 70/30 held by Faurecia (China) Investment Co., Ltd. and BYD Auto Industry Company Limited. It is green lighted to develop, produce, assemble, sell, and deliver automotive seats and other seat-related parts like frames, foam, and covers.

The establishment of the Xi'an-based company came only 26 days after Shenzhen Faurecia set up a wholly-owned subsidiary in Changzhou, which features the same line of business as that of Xi'an Faurecia.

Notably, BYD has car manufacturing facilities in both Xi'an and Changzhou. The Xi'an plant is responsible for producing such hotter-selling models as the Qin PLUS DM-i and the Song PLUS DM-i. The foundation of the aforesaid subsidiaries is regarded by industry insiders as the efforts to shore up the growth of vehicle production capacity.