Beijing (ZXZC)- Chinese new energy vehicle startup, Leapmotor, recently established a joint venture with Faurecia, called Jinhua Leapmotor Faurecia Automotive Components Co., Ltd., according to information from Tianyancha, a Chinese corporate database. 

Leapmotor store; photo credit: Leapmotor

The company has a registered capital of 45 million yuan. Its business scope includes the manufacturing of automotive components and accessories, retailing of automotive spare parts, technical services, and import-export of goods. 

The equity structure diagram reveals that the company is jointly held by Faurecia (China) Investment Co., Ltd. and Leapmotor (Jinhua) New Energy Vehicle Parts Technology Co., Ltd., a subsidiary of Leapmotor.

The cooperation agreement between Leapmotor and Faurecia was firstly inked on September 30, 2022, in a bid to jointly deploy a sustainable and high-quality automobile seating supply chain.

In February of this year, Zhu Jiangming, the founder and chairman of Leapmotor, and Ma Chuan, the president of Faurecia China, signed a joint venture agreement. Under the agreement, the two parties will collaborate to establish a new energy vehicle supporting industrial production base in Jinhua Economic and Technological Development Zone, Jinhua city, which is located in East China's Zhejiang Province.

By 2025, the annual production capacity of the manufacturing base is expected to reach 350,000 units of automotive seats and other supporting facilities.