On April 20, Changan signed a joint venture agreement with Foggia. The two parties will jointly invest in the establishment of Southern Foggia Auto Parts Co., Ltd. with an equity ratio of 50:50. The company will have production in Hangzhou, Shenzhen, and Chongqing. base.
It is understood that the total investment of Southern Foggia is 293 million yuan, which will focus on the development and production of automotive interior related products including dashboards, door panels, center consoles and cockpit modules. According to Li Jingcheng, deputy general manager of Foggia, the two parties will establish new factories in Shenzhen and Hangzhou, and Faurecia will transfer the existing factory in Chongqing to the new joint venture company. Its future customers include Changan Ford, Changan Peugeot Citroen, Changan Mazda and Changan's own brands.
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