International. The companies have announced a significant expansion of their collaboration into Europe. The alliance will take shape in Hungary, where FORVIA will establish BYD's first presence in the region.
This development follows the recent opening of a seat assembly plant in Thailand, marking a new milestone in a partnership that began in 2017 with the formation of the joint venture Faurecia Automotive Parts Co., in which FORVIA owns a majority shareholding.
Over the past seven years, this collaboration has resulted in the opening of seven plants in China and the development of a research and development center in Shenzhen. Enlargement to Europe represents a significant strategic step for both companies.
Patrick Koller, CEO of FORVIA, highlighted: "Expanding our partnership with BYD to Europe is a crucial milestone. Our cooperation in Asia has been very successful, and we are confident that this expansion into the European market will foster even more innovation and growth. FORVIA is committed to supporting its customers in their international expansion, leveraging our knowledge of major global markets and end-user expectations."
For its part, BYD stresses that its goal is to reach the club of 10 million vehicles manufactured, and considers globalization a key priority in its strategy. The company highlights that a global supply chain is essential for this expansion, and FORVIA will play a pivotal role in it. The project in Hungary will be led by FORVIA to ensure a successful launch of this new phase of their strategic cooperation.
