FORVIA, a French company that ranks as the world’s 7th largest supplier of automotive technologies, is partnering with BYD for the construction of a new seat-assembly plant in the Rayong province of Thailand. This new facility will produce complete seat sets under Shenzhen Faurecia Automotive Parts Co., Ltd, a joint venture created by BYD and Faurecia in 2017, majority owned by FORVIA.
This strategic leap strengthens the global technical partnership developed with electric vehicle manufacturer BYD. FORVIA’s entry into Thailand’s market for its Seating activities marks a powerful milestone, complementing the Group’s existing industrial presence in the country across its Interior, Electronics, and Clean Mobility businesses.
The decision to build the new plant in Thailand was bolstered by the robust logistics and export infrastructure available in the country, as well as FORVIA’s long-standing industrial presence in the country, according to the French company, which expects the Asia-Pacific region to account for 57% of global automotive industry growth over the coming fifteen years.
FORVIA employs over 40,000 people throughout Asia. In 2022, the Group recorded sales of over EUR 6.7 billion (USD 7.2 billion) in the region, or 27% of FORVIA’s total sales. The outlook for this market is promising: By 2025, it is estimated that Asia (excluding India) will account for 50% of global vehicle production.