BYD, Faurecia’s subsidiary, recently set up a new sub-subsidiary, named Changzhou Faurecia Auto Parts Co., Ltd. Changzhou Faurecia according to China’s corporate database, Qichacha. 

Photo credit: Faurecia

Changzhou Faurecia was established on February 16th, with an RMB10 million registered capital. Qichacha’s record showed that the new company is authorized to develop, manufacture, and sell auto parts and automotive decorations. The company is wholly owned by Shenzhen Faurecia Auto Parts Co., Ltd. Shenzhen Faurecia).   

The French auto part mogul holds 70% of Shenzhen Faurecia’s stake, while BYD holds the other 30%.

Shenzhen Faurecia was registered on February 26th, 2018, and made public on July 5th in the same year. The company’s business operations revolve around car seats, including the development, production, and sales of whole seats, seat frames, seat foam, and seat covers. 

By 2022, Shenzhen Faurecia’s seat production volume is projected to be over 700,000 sets, realizing at least 2 billion yuan of sales.

In an effort to achieve its expectations, Shenzhen Faurecia established subsidiaries in Changsha and Xi’an and continues to use BYD’s workshops.