The world’s seventh-largest car parts supplier Forvia will bring its partnership with Chinese battery specialist and carmaker BYD to Europe, it said on Tuesday.
Forvia said the two companies will operate together in BYD’s new factory in Hungary, as an extension of their current partnership in Asia.
“Our collaboration has already resulted in significant achievements in Asia, and we are confident that this expansion will drive further innovation and growth in the European market,” Forvia’s CEO Patrick Koller said in a statement.
Organizations
Car parts makers like Forvia, hurt by lagging global car sales, are seeking to take advantage as Chinese carmakers spread their wings and look to challenge legacy rivals on their home turf.
Forvia already supplies vehicle interiors, seating, electronics and software to BYD’s Asian automotive production, through seven joint plants across China. The venture also includes a dedicated R&D centre in Shenzhen and a new seat factory in Thailand.
When asked about the scale of the partnership in Hungary, and which products Forvia would supply, a spokesperson declined to comment.
Forvia said in April it was talking to more Chinese automakers looking to set up in Europe and that it was looking to reduce its dependency on BYD after the carmaker posted its weakest quarterly profit growth since 2022 for the first three months of the year.
(Reporting by Nathan Vifflin; Editing by Kirsten Donovan)
