#FAURECIA

Infrastructure

Faurecia Readies Autonomous Valet Parking Tech

Users can remotely park their car or summon it for pickup

Mobility

Renault Mulls CEO Candidates

Henri Poupart-Lafarge, who heads French transportation and infrastructure giant Alstom, has joined the short list of contenders to become the CEO of Renault.

Interiors

Faurecia to Buy Out Conti in JV

Faurecia SA has agreed to acquire Continental AG’s 50% stake in SAS Autosystemtechnik Verwaltungs GmbH and take full control of the interior modules joint venture.

Reports: Renault Will Replace CEO Bollore

Renault SA board may consider a replacement for CEO Thierry Bollore at its next meeting on Oct. 18, according to French media reports.

Sales

China Expansion Buoys Faurecia Sales

French seating supplier Faurecia SA says expanded operations in China helped it boost revenue through the first six months of 2019 by 3% to $1.3 billion.

Mobility

Vision Software Developer Lands Investors

Recogni Inc., a Silicon Valley-based developer of high-speed sensor fusion processors for autonomous vehicles, has attracted $25 million in Series A funding.

Faurecia to Open R&D Center for Hydrogen Tanks

Faurecia SA plans to open a center of expertise for hydrogen storage systems at the company’s research and development center in Bavans, France.

Business

Workers Ratify Rich Contract at Faurecia Plant in Michigan

Workers at a Faurecia SA factory in Saline, Mich., overwhelmingly approved a labor contract that includes a 56% pay hike for new hires, according to the United Auto Workers union.

Interiors

Labor Deal at Faurecia Plant Ends Brief Strike

A tentative labor contract ended a nine-hour strike today at an interior trim plant in Michigan and averted likely production disruptions at Ford, FCA and Tesla.

Oldorff to Head Autoliv’s European Operations

Autoliv Inc. has hired Frithjof Oldorff to head the company’s European operations.

Sales

PSA’s Group Revenue Slips as Unit Sales Drop 16%

PSA Group says its unit sales skidded 16% to 886,000 cars in January-March, mainly because of suspended operations in Iran.

Propulsion

Tenneco Powertrain Nabs 2 PACE Innovation Awards

The winners of this year’s PACE Awards (Premier Automotive Suppliers’ Contribution to Excellence) for innovation consisted of 13 suppliers from around the world.

Business

Michelin, Faurecia Partner on Fuel Cell JV

French suppliers Michelin & Cie. and Faurecia SA have agreed to create a joint venture that will develop and produce fuel cell systems for passenger vehicles and other applications.

Economics

Opel Helps PSA Post Record Sales, Net Income

PSA Group reports record unit sales, revenue and both operating and net income for 2018, largely because of its acquisition of Opel/Vauxhall from General Motors Co. in 2017.

Business

Faurecia Makes Tender Offer for Nav System Supplier Clarion

French auto supplier Faurecia SA says it will make a tender offer tomorrow to buy audio and nav system supplier Clarion Co. from Tokyo-based Hitachi Ltd.

France Said to Back Bollore as Interim CEO at Renault

The French government reportedly backs a plan to name Thierry Bollore, Renault SA’s chief operating officer, to be interim CEO, according to Bloomberg News.

Business

Faurecia, Wuling Launch Partsmaking Venture in China

Faurecia SA and Liuzhou Wuling Automotive Industry Co. have formed a company to supply automotive emission control systems in China.

Business

Faurecia to Buy Controlling Stake in Audio Supplier Clarion?

France’s Faurecia SA reportedly plans to take a majority stake in Japanese audio and navigation system supplier Clarion Co. Ltd.

Business

Report: Magneti Marelli Sale Talks Stalled over Price

Fiat Chrysler Automobiles NV is asking for more than €6 billion ($7 billion) for its Magneti Marelli car parts business from would-be buyer KKR & Co., sources tell Bloomberg News.

Business

Hydrogen Consortium Adds 14 Members

The Hydrogen Council—a global coalition aimed at advancing and promoting hydrogen technologies, standards and policies—is adding 14 members.

Production

Detroit Manufacturing Founder Sells Stake in Company

Andra Rush, who founded Detroit Manufacturing Systems LLC (DMS) in 2012, has sold her majority stake in the firm to Bruce Smith, the co-owner and CEO of Marysville, Ohio-based tooling maker BTM Co.

Startup Weighs In on Thermal Seating Tech

Traverse City, Mich.-based Promethient Inc. is developing a weight-activated conductive seat heating and cooling system touted as more energy efficient and durable than today's convective systems.

Business

Faurecia’s First-Half Profit Climbs 10%

French auto supplier Faurecia SA reports its net profit in the first half of 2018 climbed 10% to €342 million ($401 million) in January-June.

Production

Accenture Expands Michigan Operations

Accenture plc, a New York-based professional services firm, has opened an automotive innovation center in Livonia, Mich.