As a leading automotive technology company, Faurecia is inspiring the future of mobility. 1 in 3 vehicles are equipped by Faurecia worldwide. With 266 industrial sites, 39 R&D centers and 114,000 employees in 35 countries, Faurecia is a top ten global automotive supplier.
Story Outline
- Factors like constant innovation and heavy demand are leading Faurecia to lead the automotive interior market in US.
- Ventures of Faurecia and major acquisitions with companies like Microsoft which Competitive landscape of Faurecia which lead to growth of US Automotive interior market.
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1. Faurecia’s CEO is excited for the new technical advancements in the industry
Faurecia has a long history in automotive market as one of the largest vehicle markets in the world; Faurecia’s 29 U.S locations provide automakers with the latest Cockpit of the Future and Sustainable Mobility technologies.
CEO of FAURECIA Patrick Koller is very excited for the new ventures and emerging technologies, which are coming in the market for the growth of automotive interior market.
Like Amminex, a Danish technology company acquired by Faurecia in 2016, is the only supplier able to propose this breakthrough technology called ASDS™ (Ammonia Storage and Delivery System) which has been proven to reduce NOx emissions by as much as 99 percent.
Also in sustainable development sector we know that Low-carbon hydrogen represents an essential building block in the energy transition.
This conviction, shared by both Air Liquide and Faurecia, company of the FORVIA Group, is a driving force of their partnership to develop and produce a more efficient solution for long-distance heavy vehicles: a propulsion system powered by liquid hydrogen stored on board.
2. Trending follow-ups of Faurecia which are responsible for the development of US Automotive interior market
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Faurecia and Microsoft have combined their expertise in edge-computing, artificial intelligence, cloud-based services and cockpit integration to enable occupants to stay connected, productive and entertained while in the car.
In addition, Faurecia and its strategic partner MAHLE have worked together to integrate and connect different interiors and seating features to enhance the on-board experience.
The focus has been creating an individual thermal and comfort bubble that leaves a passenger feeling better at the end of their journey. Faurecia also has acquired the SAS, which is a key player in complex assembly and logistics of interior modules.
Faurecia and Veolia signed an agreement to develop innovative compounds for automotive interior modules jointly.
Through this partnership, the two companies will accelerate the deployment of breakthrough sustainable interiors solutions implemented in European instrument panels, door panels, and center consoles.
Faurecia and Aptoide, one of the largest independent Android app stores, have created a joint venture to develop and operate Android app store solutions for the global automotive market.
3. Competitive landscape of Faurecia and major investments in the market
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The major players in the market of US Automotive interior Adient PLC, Faurecia, Groclin S.A, Recaro Group, Panasonic Corporation, Lear Corporation, Grammer AG, Magna International Inc., Pioneer Corporation and Visteon Corporation.
In May 2022, Faurecia announced a USD 147 million investment in developing a new facility in Nuevo Leon.
The factory will serve the company's Interiors and Seating Business Groups and will be a combined operation.
Faurecia's Interiors Business Group will receive USD 75 million of the overall investment to boost production, which will initially be utilized to develop and install instrument panels and other interior modules.
Faurecia's Seating Business Group will receive the remaining USD 72 million.
By looking at the Sales margin of Faurecia Sales which is ~€26 bn also the Operating margin is between 5% and 6% of sales.
Conclusion
Faurecia is one the major companies which is leading in the US Automotive interior market. It is developing continuously in its technical segment as well as the acquisition and business sector.
Many big car companies like Volkswagen Group, Stellantis, Renault–Nissan–Mitsubishi, Ford, General Motors, BMW, Daimler, Toyota, Tesla, Inc., Hyundai-Kia, Jaguar Land Rover and BYD among others are using the interior technology of Faurecia.
Faurecia US has become a key piece for the automotive industry thanks to its firm commitment to the digitization of processes, in which each plant can monitor its production in real time, as well as analyze efficiency and action plans to detail.
They have four different sections in which they work- Interiors, Seating, Clean Mobility and Clarion Electronics. They have 22 productive sites, 7 Research and Development Centers and one Shared Services Center.
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