Faurecia has signed a partnership agreement with Dongfeng Hongtai, a majority-owned subsidiary of Dongfeng Motor Corporation (Dongfeng).
Faurecia has an existing relationship with Dongfeng through PSA Peugeot Citroen, which holds a 51.7% stake in the supplier. PSA in turn also has strong links with Dongfeng. The first joint venture (JV) between Dongfeng and PSA was established in 1992, and March 2014, a deal saw Dongfeng and the French government take matching 14% stakes in PSA in a €3bn ($4.1bn) capital increase.
The announcement of a Faurecia Dongfeng JV signals the strengthening of these interlinked companies.
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